THE PRINCIPAL COMMISSIONER OF INCOME TAX vs. JOSE THOMAS
ITA/46/2020HC Kerala03 Apr 2024
Bench: HONOURABLE DR. JUSTICE A.K.JAYASANKARAN NAMBIAR,HONOURABLE MR. JUSTICE SYAM KUMAR V.M.
For Respondent: THE PRINCIPAL COMMISSIONER OF INCOME TAX
transfer cannot be treated as 'income from capital
gain'. The CIT(A) treated it as "income from other sources" so as to tax the same.
This finding of the CIT(A) is not proper. The assesses herein were holding
trusteeship in the Carmel Educational Trust which was relinquished in favour of
trustees of Believers Church, and this right is nothing
