https://www.taxtmi.com/caselaws?id=465230 ITAT held that the amount received by the assessee-company from another group company, described as a gift, constituted a capital receipt and not a revenue receipt within the meaning of s. 2(24) or s. 28(iv). Relying on its own earlier decision in the assessee's case on identical facts, the Tribunal noted that the transaction was duly supported by documentary evidence and lacked any element of income. Consequently, the addition made under normal provisions and the corresponding adjustment to book profits under s. 115JB were deleted, and the Revenue's appeal was dismissed. en-us Wed, 28 Feb 2018 00:00:00 +0530 Thu, 11 Dec 2025 20:42:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465230 ITAT held that the amount received by the assessee-company from another group company, described as a gift, constituted a capital receipt and not a revenue receipt within the meaning of s. 2(24) or s. 28(iv). Relying on its own earlier decision in the assessee's case on identical facts, the Tribunal noted that the transaction was duly supported by documentary evidence and lacked any element of income. Consequently, the addition made under normal provisions and the corresponding adjustment to book profits under s. 115JB were deleted, and the Revenue's appeal was dismissed. Case-Laws Income Tax Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465230