S. 176(3A) Amount received after discontinuance of business, whole of receipt required to be added in total income

HIGH COURT OF JHARKHAND Commissioner of Income-tax Versus R.M. Singh T.A. NO. 40 OF 2000 OCTOBER 31, 2012 ORDER 1. No body appeared on behalf of the respondent on several occasions. Therefore, heard only learned counsel for the appellant. 2. The questions raised are as under: 1.  “Whether on the facts and in the circumstances of the case, the Tribunal was justified in restricting the nett profit at 12.5% of receipt of Arbitration Award when it held that income had to be computed in accordance with Section 176(3A) of the Income Tax Act ?” 2.  “Whether the fa...