https://www.taxtmi.com/caselaws?id=38798 The High Court held that the amount of Rs. 20,000 received by the petitioner for the transfer of the route permit in the sale of the truck was liable to tax as a revenue receipt under the Income-tax Act, 1961. The court rejected the petitioner's argument that the transaction was not part of his business, emphasizing that selling the route permit constituted a profit earned in the course of business. The court directed the case to be sent back to the Income-tax Appellate Tribunal for further proceedings, with the second judge concurring with the decision. en-us Tue, 24 Aug 1976 00:00:00 +0530 Fri, 09 Apr 2010 11:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38798 The High Court held that the amount of Rs. 20,000 received by the petitioner for the transfer of the route permit in the sale of the truck was liable to tax as a revenue receipt under the Income-tax Act, 1961. The court rejected the petitioner's argument that the transaction was not part of his business, emphasizing that selling the route permit constituted a profit earned in the course of business. The court directed the case to be sent back to the Income-tax Appellate Tribunal for further proceedings, with the second judge concurring with the decision. Case-Laws Income Tax Tue, 24 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38798