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2018 (5) TMI 261 - HC - Income TaxTreatment of damages and compensation awarded to the assessee - Dispute Settlement Arbitration award - AO rejected the assessee’s claim that these were towards capital receipts and ruled that they have fallen in the revenue stream - Held that:- The purpose of the ultimate use of the assessee’s land when acquired was rendered irrelevant on account of the seller/JMA Buildcom Private Ltd. defaulting in its commitment. This rendered the amount expanded by the assessee immobile. The eventual receipt of the amounts determined as compensation/damages, therefore, clearly fell into the capital stream and not revenue as was contended by the Revenue/appellant in this case.
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