The Income Tax Appellate Tribunal (ITAT), Raipur bench has held that the compensation received by the assessee- Company for the closure/ termination of business activity resulting in loss of source of income, impairing its profit-making structure or sterilization of profit making apparatus can be assessed as capital receipt which is not taxable under the Income […]
The post Compensation for Termination of Business resulting in Loss of Source of Income is Capital Receipt: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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