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2010 (7) TMI 508 - HC - Income TaxCapital gain vs. Other sources - Lease or transfer - sale through auction - sale consideration received in installments - whether the amount received by the seller forms part of the sale consideration or it was under a different transaction where interest for a fixed amount was calculated and received by him - the amount in question, received by the Official Liquidator as per the orders of the Company Court, though repeatedly referred to as interest, for the purpose of assessment of income tax, it is part of sale consideration and therefore, the same cannot be treated as income from other sources as defined in Section 56 of the Income Tax Act - The said amount is treated as Capital gain - Decided in the favour of the petitioner
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