TMI BlogReceipt for relinquishment of right to sue the party - to be treated and taxed as business income OR...Receipt for relinquishment of right to sue the party - to be treated and taxed as business income OR capital receipts - the impugned compensation amount is not liable to be treated as income u/s.2(24) of the Act nor the same is taxable as capital gain for business income being in the nature of a capital receipt. - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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