In an assessee-friendly ruling, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the compensation received from the builder for facing hardships on vacating the falt for redevelopment is not taxable under the Income Tax Act, 1961 as the same constitute “capital receipt.” Assessee, Mr. Ajay Parasmal Kothari is an individual…
Taxscan Premium
Why should you subscribe?
- Enjoy our website without interruptions from advertisements
- Receive Daily newsletters
- Receive realtime Telegram/Whatsapp news updates
- Download original Judgements / Order / Notifications / Circulars, etc
- Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
₹1199 + GST for 1 year
Subscribe Now
Already Subscribed?
Login Now 
