Tag: capital receipt
It is open to assessee to show that it was over assessed under erroneous impression of law even if it was the mistake of assessee – ITAT In a recent judgment, ITAT has set aside the issue of taxability of excise duty subsidy wrongly offered as taxable income. …
Compensation received for vacating flat possession not taxable it is neither chargeable under the head ‘capital gains’ nor as income from other sources – ITAT In a recent judgment, ITAT has held that compensation received by the assessee for vacating flat possession was not taxable as it was …
Compensation received from builder under settlement for failure to give possession of flat within stipulated time held not capital receipts nor interest, hence taxable at all ABCAUS Case Law Citation: ABCAUS 2613 (2018) (11) ITAT Important Case Laws Cited/relied upon: Kettlewell Bullen & Co. Ltd. Vs CIT (10\964) …