https://www.taxtmi.com/caselaws?id=463458 ITAT CHENNAI held that receipts from sale of MEIS/FPS licenses are capital receipts and not taxable as profits and gains from business under s.2(24)(xviii). The AO and CIT(A) had treated the receipts as revenue, but the Tribunal, relying on its detailed order in the assessee's own case for AY 2017-18, reversed that finding and concluded such receipts do not constitute income under the cited provision. The appeal by the assessee was allowed. en-us Wed, 16 Oct 2024 00:00:00 +0530 Tue, 02 Sep 2025 19:03:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463458 ITAT CHENNAI held that receipts from sale of MEIS/FPS licenses are capital receipts and not taxable as profits and gains from business under s.2(24)(xviii). The AO and CIT(A) had treated the receipts as revenue, but the Tribunal, relying on its detailed order in the assessee's own case for AY 2017-18, reversed that finding and concluded such receipts do not constitute income under the cited provision. The appeal by the assessee was allowed. Case-Laws Income Tax Wed, 16 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463458