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Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

Compensation for termination of lease agreement – amount ...

Income Tax

June 10, 2014

Compensation for termination of lease agreement – amount received is a capital receipt and not liable to tax under Section 55(2)(a) of the Act - HC

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  2. Receipt of compensation on termination of distributorship agreement is in the nature of revenue receipt - HC

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  4. Nature of receipt - additions towards receipt of Corpus Fund - additions on account of Corpus contribution received by the appellant being a Trust - held as capital...

  5. Classification of services - royalty - lease transfer agreement for obtaining mining lease - The applicant is liable to discharge tax liability under reverse charge...

  6. Nature of receipt against termination of lease agreement - taxable under the head income from other sources or income from house property or not taxable as capital...

  7. Excise Duty Refund - Revenue receipt or capital receipt - the excise duty refund received is in the nature of capital receipt and is not exigible to the tax - HC

  8. Renting of immovable property - Assessee is liable to pay service tax in respect of such one time amounts received in respect of lease granted for less than 30 years - AT

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