Amount Received Not in respect of Transfer of Title, Rights or Interest in Property cannot be Taxable Under Head of “Capital Gains”: ITAT [Read Order]

By Shabna Rahim - On June 16, 2023 10:36 am - 2 mins read

Amount Received - respect of Transfer of Title - Rights or Interest - Property cannot - Taxable Under Head - Capital Gains - ITAT - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) held that the amount received not in respect of the transfer of title, rights, or interests in property cannot be taxable under the head of “capital gains”. Mahendra Corporation, the appellant assessee was a firm, which did not conduct any business during the year under…

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