The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) in the case of M/s Chedda Housing Development Corporation v Addl. CIT held that compensation in lieu of ‘right to sue’ is of capital nature not chargeable to tax under Section 45 of the Income Tax Act. The assessee is a partnership firm engaged […]
The post Compensation in lieu of ‘Right to Sue’ of Capital Nature, not chargeable to Tax: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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