Nature of surrendered income - business income or otherwise - It ...

Court Rules Surrendered Income as Business Income; Revenue Must Prove Other Sources Exist Under Tax Law Requirements.

March 7, 2023

Case Laws Income Tax AT

Nature of surrendered income - business income or otherwise - It is for the Revenue to prove that there were some other sources noticed. We cannot expect the assessee to prove the negative. In the peculiar facts of the present case as available on record we find that the surrender was from the normal business income of the assessee. - AT

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Nature of surrendered income - business income or otherwise - It ...

Court Rules Surrendered Income as Business Income; Revenue Must Prove Other Sources Exist Under Tax Law Requirements.

March 7, 2023

Case Laws Income Tax AT

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