Damages/compensation received - nature of receipt - the amount ...

Settlement Compensation Classified as Capital Receipt, Exempt from Taxation Under Current Tax Law.

September 18, 2018

Case Laws Income Tax AT

Damages/compensation received - nature of receipt - the amount received towards compensation/damage for settlement of dispute is capital receipt, hence not taxable.

View Source

← Previous Next →

Damages/compensation received - nature of receipt - the amount ...

Settlement Compensation Classified as Capital Receipt, Exempt from Taxation Under Current Tax Law.

September 18, 2018

Case Laws Income Tax AT

You may also like:

ITAT adjudicated a tax dispute concerning compensation receipt upon employment termination. The tribunal determined that ex-gratia payment constitutes a capital receipt,...

Exempted capital gain wrongly shown in the belated return as taxable - just because the assessee inadvertently or by ignorance has shown the exempt income as exigible to...

Taxability of Cash compensation received – capital receipt vs Revenue receipt - Capital receipt in principle is outside the scope of income chargeable to tax. .... - AT

Nature of receipt - Profits in lieu of salary or capital receipt - Receipt on termination of employment - Taxability u/s 17(3)(iii) - The Tribunal considered precedents...

Receipt of Compensation - termination of rights - Capital or revenue - any compensation received for the loss of agency is a revenue receipt, whereas compensation which...

ITAT adjudicated compensation received for wind turbine generator (WTG) under-performance as capital receipt, not taxable. Relying on precedents in PCIT vs Xpro India...

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

Compensation received from the German publisher - Honorarium receipt - receipt represents compensation for the loss of a source of income - capital in nature - not taxable - HC

Compensation received under an award passed by the Land Acquisition Officer u/s 24(1) of the Right to Fair Compensation and Transparency in Land Acquisition,...

Levy of service tax - Consideration for tolerating the act of cancellation of the coal blocks - Both the cancellation of the allocation of the blocks and the receipt of...

Characterization of receipt - in respect of business exigencies the compensation specially in respect of damage to properties through fire or any other activities, the...

Correct head of income - compensation received for vacating the flat - While the assessee argued for capital gain treatment, the Revenue contended it should be...

Recovery of CENVAT Credit - capital goods - availability of credit when the production started become dutiable - even if the goods per se were exempted during the...

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...

Taxability on compensation received on transfer of 'Development Rights' - a capital asset in respect of which the cost of improvement could not be ascertained and...

Quick Updates: