Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (8) TMI 147 - HC - Income TaxCapital or revenue receipt - The facts brought on record before the ITAT and before this Court by filing an additional affidavit clearly show that the property belonging to the assessee was damaged by Sahara India and in fact after paying compensation, neither Sahara India nor the Municipal Council have restored the land belonging to the assessee to its original position - The fact that the land has remained with the assessee and that the assessee in future may earn profits from the said land cannot be a ground to hold that the compensation received by the assessee in lieu of damage caused to the land was revenue receipt - Decided in favor of the assessee
|