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2020 (7) TMI 714 - AT - Income TaxCapital gain - tenancy right available with the assessee or not? - the amount received for not interfering possessions - the parties of the family settlement that the assessee and her relatives were in possession of flat. - relinquishment of rights - capital receipt v/s capital gain - HELD THAT:- In the instant case, Smt. Saraswati Vithaldas Sahita occupied the said flat at 2nd floor of the building known as Gangasagar on license basis. This is crystal clear from the ‘Consent Term’ before the Hon’ble Court of Small Causes at Mumbai, quoted at length earlier. After demise of Mrs. Saraswati Vithaldas Sahita, her son Shri Vidyut Sahita occupied the said flat with his family. The said building Gangasagar was purchased by M/s H.M. Enterprises. For vacating the premises, M/s H.M. Enterprises filed suit against the occupier of Gangasagar building. An out of Court settlement was made so that occupier could not interfere with possession of M/s H.M. Enterprises. The appellant being daughter-in-law of Smt. Saraswati Vithaldas Sahita received ₹ 25,00,000/- for not interfering possessions of M/s H.M. Enterprises. The distillation of precedents must now be applied to the facts of the present case. CIT(A) erred in confirming addition on account of relinquishment of right. CIT(A) erred in treating capital receipt as capital gain - Decided in favour of assessee.
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