Option Price from Joint Venture Share Sale Not Taxable, Revenue's Interpretation Lacks Merit, Says Investor in Insurance Business.

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....Nature of receipt - option price received against to sell the shares of the joint-venture company - After considering all these facts the Dabur has invested into the insurance business by assuming the risk as a business man. Thus, the treatment of the joint-venture agreement by the revenue and its interpretation that option price received by Dabur is a revenue receipt and is chargeable to tax as income is devoid of any merit. - AT....