The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the consideration received for the relinquishment of ‘Right to Sue’ does not attract income tax either under section 45 or section 28 (va) of the Income Tax Act, 1961. The assessee entered into a development agreement dated 30.03.2007 by virtue […]
The post Receipt for Relinquishment of ‘Right to Sue’ not Taxable: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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