https://www.taxtmi.com/caselaws?id=39354 The High Court held that the remuneration forgone by the assessee, amounting to Rs. 4,800, was taxable income despite the waiver, emphasizing the statutory provisions of Section 15 of the Income-tax Act, 1961. The court rejected the assessee's arguments and concluded that the Tribunal's decision to reduce the income from Rs. 58,000 to Rs. 10,200 was justified based on factual evidence. The court found no legal errors in the Tribunal's findings regarding the explanation of Rs. 38,000, affirming that it was a question of fact. en-us Wed, 24 Sep 1975 00:00:00 +0530 Thu, 15 Apr 2010 17:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39354 The High Court held that the remuneration forgone by the assessee, amounting to Rs. 4,800, was taxable income despite the waiver, emphasizing the statutory provisions of Section 15 of the Income-tax Act, 1961. The court rejected the assessee's arguments and concluded that the Tribunal's decision to reduce the income from Rs. 58,000 to Rs. 10,200 was justified based on factual evidence. The court found no legal errors in the Tribunal's findings regarding the explanation of Rs. 38,000, affirming that it was a question of fact. Case-Laws Income Tax Wed, 24 Sep 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39354