Compensation received by the assessee from RDG in the out-of-court settlement was business income and not capital gains as claimed by the assessee
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT ) has concluded that Piramal Enterprises suffered a setback by categorizing the compensation of Rs. 92.7 crore from termination as ‘business income’ instead of ‘capital gain’. During the relevant year, the assessee company received Rs. 92,76,62,688 from Roche Diagnostics Gmbh ( RDG ) of Germany…
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 
