Supreme Court of India
Shrimand Padmaraja R. Kadambanda, Dhulia v. The Commnr. of Income Tax, Pune
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We hold that the amounts received by the asseessee during the financial years in question have to be regarded as capital receipts and, therefore, are not income within the meaning of Section 2(24) of the Income Tax Act. accordingly, we set aside the judgment of the High Court and allow the appeals with no order as to costs.
Judgment, page 14
From the headnote
The appellant-assessee, the descendant of the late ruler of Kolhapur State was sanctioned a monthly cash allowance by the successor to the late ruler. After the merger of the princely State with the then state of Bombay, the cash allowance was discontinued, in view of the provi- sions of the Bombay Merged Territories Miscellaneous Aliena- tions Abolition Act,1955 which abolished miscellaneous alienations of various kinds prevailings in the merged territories.
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