Home Highlights February 2012 Year 2012 This

You may also like:

1. Nature of receipt - Profits in lieu of salary or capital receipt - Receipt on termination of employment - Taxability u/s 17(3)(iii) - The Tribunal considered precedents...

2. Receipt of Compensation - termination of rights - Capital or revenue - any compensation received for the loss of agency is a revenue receipt, whereas compensation which...

3. Damages/compensation received - nature of receipt - the amount received towards compensation/damage for settlement of dispute is capital receipt, hence not taxable.

4. Receipt towards compensation in lieu of ‘right to sue’ - capital receipt OR revenue income - breach of development agreement and a compensation was paid to avoid...

5. Capital Receipt vs Revenue Receipt - Excise Duty refund is to be treated as ‘capital receipt’ in the hands of the assessee and not liable to be taxed - AT

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

7. Taxability of hardship compensation received by an assessee from a builder for vacating an existing flat for redevelopment purposes. The assessee claimed that such...

8. Nature of interest received - revenue receipt or capital receipt - compensation for breach of contract relating to capital assets - Merely because the tax has been...

9. Capital receipt or revenue receipt - receipt of compensation under JV agreement - surrender of certain rights - there as no impairment of source of income - taxable as...

10. Taxability on compensation received on transfer of 'Development Rights' - a capital asset in respect of which the cost of improvement could not be ascertained and...

11. Nature of compensation received towards cancellation of share purchase agreement - Capital receipt (non taxable) or revenue receipt - failure to fulfill the terms of...

12. Receipt of compensation on termination of distributorship agreement is in the nature of revenue receipt - HC

13. Compensation received from the German publisher - Honorarium receipt - receipt represents compensation for the loss of a source of income - capital in nature - not taxable - HC

14. Compensation received by the assessee is for the loss of earnings only it is revenue receipt exigible to tax and not a capital receipt - AT

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