Award Received from Trust: Capital Receipt not taxable

[2015] 56 taxmann.com 80 (Delhi)

HIGH COURT OF DELHI

Aroon Purie

v.

                                                 Commissioner of Income-tax

Rs. 1 lakh received by the appellant- assessee as an award from B.D. Goenka Trust for Excellence in Journalism would be a capital receipt and hence not income taxable under the Act, i.e. Income Tax Act, 1961