Case: H.S. Ramchandra Rao Vs. Commissioner of Income Tax and Ors

2. The issue involved in this appeal is essentially questioning the finding of fact recorded by the authorities below whether the amount received by the Appellant in the sum of Rs. 37,54,266 (Rupees thirty seven lakh fifty four thousand two hundred sixty six only) is capital receipt or revenue receipt in the hands of the Appellant.3. The authorities below have concurrently found that going by the admission of the Appellant, the amount received by the Appellant cannot be treated as capital receipt but only as revenue receipt. For that, the authorities have relied on the statement given by the Appellant dt. 14th July, 2000 as also the ground No. 3 articulated by the Appellant in the appeal filed before the first appellate authority.

Court's reasoning:
That being the case, the question of Appellant invoking the principle of capital asset does not arise. It may have been a different matter if it was a case of life time appointment of the Appellant as secretary of the concerned institution. No such evidence was produced by the Appellant before the AO or before us.