The Income Tax Appellate Tribunal (ITAT), Mumbai has held that the assessee cannot be assessed for capital gain on the ground of transfer of right to sue. The assessee, a lawyer by profession, was assessed for the compensation of Rs.900 Lakhs received by the assessee during impugned AY pursuant to certain consent terms as approved […]
The post Transfer of Right to Sue would not constitute Capital Gain: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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