Nature of receipt - compensation for displacement in terms of ...

Income Tax

February 9, 2024

Nature of receipt - compensation for displacement in terms of re-development agreement as “Hardship Compensation” - surrender of flats by members pursuant to the re-development agreement - The ITAT considered the facts and legal arguments. It agreed with the appellant, concluding that the "Hardship Compensation" was a capital receipt and not revenue in nature. It referenced previous Tribunal decisions supporting this view.

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Nature of receipt - compensation for displacement in terms of ...

Income Tax

February 9, 2024

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