Receipts from Venture Capital Company Account Surplus are Taxable Income for Assessee.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The nature of receipts in the hands of assessee is income being surplus in its account held with the Venture Capital Company distributed to assessee at the time of squaring up the account of assessee with the Venture Capital Company - Receipt of share from Venture Capital Company is taxable - AT....