11 results for “capital gains”+ Section 195clear
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Bench: Shri A.T. Varkey & Shri Manish Borad
195 ITR 877, the Hon’ble Supreme Court held that the capital receipts are not income within the definition of Section 2(24) of the Act and hence are not chargeable under the Income Tax Act. The learned counsel further stated that the provision of Section 115- JB of the Act is alternative mechanism for computation of income based