Compensation received for Non-Performance of Obligation by DDA is Capital Receipt: ITAT [Read Order]

Compensation - DDA - Capital Receipt - ITAT - Income tax - tax - taxscan

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) chaired by Aby T. Varkey (Judicial) and Amarjit Singh (Accountant Member) deleted the addition of Rs.278 crores made by the Assessing Officer (AO). The tribunal opined that the compensation received for non-performance of obligation by Delhi Development Authority (DDA) is a capital receipt and…

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