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Income Tax - Highlights / Catch Notes

Home Highlights December 2017 Year 2017 This

Taxability of amount received - Relinquishment of right to sue ...

Income Tax

December 8, 2017

Taxability of amount received - Relinquishment of right to sue is neither a capital asset nor taxable u/s 28 which provides specific types of receipt to be held taxable as business income. Relinquishment of right to sue does not find any mention therein. - HC

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