Home Highlights March 2014 Year 2014 This

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1. Unexplained cash credit u/s.68 on account of relinquishment of right - the amount of the compensation received by the assessee for relinquishment of its right to sue...

2. Compensation received for foregoing the rights to sue against purchase of property - revenue or capital receipt - Once the compensation is held to be is only on account...

3. Receipt towards compensation in lieu of ‘right to sue’ - capital receipt OR revenue income - breach of development agreement and a compensation was paid to avoid...

4. Taxability of compensation for giving-up of the litigation for land - right to sue - there could not be any transfer of a "right to sue" under Indian Law and any capital...

5. LTCG - surrender of right sue under MOU and withdrawal of complaint before criminal court - compensation along with interest, towards loss of profit/liquidated damage...

6. Capital gain computation or Income from other sources - compensation received by the assessee on extinguishment of his right in property - transfer of asset u/s 2(47) -...

7. LTCG - Receipt of additional amount towards TDR - treatment to receipt of consideration the appellant ceased to be the owner of the property - compensation received for...

8. Relinquishment of right before development - Right to sue surrendered in lieu of getting compensation money - capital gain or business income - the impugned compensation...

9. Additions as interest income - compensation received by the assessee - As the business of assessee was set up and had started and there was huge investment made by...

10. Claim of the assessee u/s. 89 r.w. Rule 21A of I.T. Rules - The basis of compensation calculated by the company and the company also treated the one-time compensation as...

11. Taxability of compensation - The dominant consideration for compensation being surrendering the right to sue; its neither in lieu of surrender of any agency or agreement...

12. 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...

13. Accrual of income in India - PE in India or not? - use or right to use brand name/trade mark - the receipts cannot be treated as royalty under Article 12(3)(a) of the...

14. Capital Gains or income from other sources - Nature of compensation received - Where such an asset is transferred by way of relinquishment, the compensation for such...

15. Capital gain or salary received - Recognizing the compensation received by the assessee as the share holding of the company - the amount received quivalent to the...