https://www.taxtmi.com/caselaws?id=57282 The Tribunal upheld the CIT(A)'s decision that the forfeited earnest money of Rs. 20 lacs was a capital receipt, not a revenue receipt. The shares of DCM Ltd. were held as an investment for controlling the company, not for trading. The nature of the receipt should be determined in the hands of the receiver, and the forfeited amount was not connected with the trading activity of the assessee. The Department's appeal was dismissed. en-us Fri, 30 May 2003 00:00:00 +0530 Tue, 19 Jun 2012 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57282 The Tribunal upheld the CIT(A)'s decision that the forfeited earnest money of Rs. 20 lacs was a capital receipt, not a revenue receipt. The shares of DCM Ltd. were held as an investment for controlling the company, not for trading. The nature of the receipt should be determined in the hands of the receiver, and the forfeited amount was not connected with the trading activity of the assessee. The Department's appeal was dismissed. Case-Laws Income Tax Fri, 30 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57282