Treatment of compensation received – The amount was received ...

Case Laws Income Tax

September 12, 2014

Treatment of compensation received – The amount was received because the assessee had given up its right to purchase and/or to operate the property - it is loss of source of income to the assessee - not taxable - AT

View Source

← Previous Next →

Treatment of compensation received – The amount was received ...

Case Laws Income Tax

September 12, 2014

You may also like:

Eligibility of relief u/s 89 r.w. Rule 21A of I.T. Rules - Amount to be spread over the years including future years - compensation received by the assessee as only...

Unexplained cash credit u/s.68 on account of relinquishment of right - the amount of the compensation received by the assessee for relinquishment of its right to sue...

LTCG - Receipt of additional amount towards TDR - treatment to receipt of consideration the appellant ceased to be the owner of the property - compensation received for...

Capital gain computation or Income from other sources - compensation received by the assessee on extinguishment of his right in property - transfer of asset u/s 2(47) -...

Additions as interest income - compensation received by the assessee - As the business of assessee was set up and had started and there was huge investment made by...

Correct head of income - compensation received for vacating the flat - While the assessee argued for capital gain treatment, the Revenue contended it should be...

Characterization of receipt - in respect of business exigencies the compensation specially in respect of damage to properties through fire or any other activities, the...

Correct head on income - Income from trees - Any compensation received in lieu of loss thereof would form part of assessee’s trading operations. The same is evident from...

Exemption u/s 54F - Assessee given advance for purchase of land in the year 2005 and accordingly acquired right for specific performance of agreement of sale - The said...

Taxability of amount received for giving up his rights over properties - family settlement - sum received by assessee is traceable to the realisation of rights as legal...

Compensation received for foregoing the rights to sue against purchase of property - revenue or capital receipt - Once the compensation is held to be is only on account...

Claim of the assessee u/s. 89 r.w. Rule 21A of I.T. Rules - The basis of compensation calculated by the company and the company also treated the one-time compensation as...

Unexplained investment u/s 69 - Amount advanced by M/s. KSR Constructions to the assessee has to be construed as the amount given by M/s. KSR Constructions on behalf of...

Compensation received by assessee from builder for non-delivery of property within stipulated time is a capital receipt not chargeable to income tax. Assessee had...

Correct head of income - compensation/liquidation damages received on account of relinquishment of right in the property - The word saleable condition cannot be a...

Quick Updates: