1998 (4) TMI 132

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..... C. RANGARAJAN J.---At the instance of the Revenue, the following two questions are referred : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is correct in holding that the amount of Rs. 23,385 earned by the assessee constitutes capital receipt in the assessee's hands and cannot be brought to tax under the head 'Other sources' for the assessment ....

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.... 227 ITR 172 (SC) that such interest has to be separately treated as income and cannot be taken as part of the capital structure. In the circumstances, question No. 1 and on this aspect question No. 2 are answered in the negative and against the assessee. In respect of the first part of question No. 2 the two items of Rs. 360 and Rs. 79,100, which represent the realisation by selling the tender....