2011 (11) TMI 726 - HC - Income Tax

Summary

The Delhi High Court allowed the exemption subject to exceptions in the case of ITA 1235/2011. The court framed a substantial question of law regarding a receipt of Rs. 48,64,490 by the appellant from M/s. Newell Rubbermaid Inc., questioning if it was a revenue or capital receipt. The filing of a printed paper book was dispensed with, allowing parties to file documents within 12 weeks. The case was listed along with other connected ITAs in the category of 'Regular Matters'.