![Interim Compensation in Cheque Default Cases is not Mandatory: Bombay HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/08/Interim-Compensation-Cheque-Default-Cases-Bombay-HC-taxscan.jpg "Interim Compensation in Cheque Default Cases is not Mandatory: Bombay HC [Read Order]")
Interim Compensation in Cheque Default Cases is not Mandatory: Bombay HC [Read Order]
The Bombay High Court ruled that interim compensation in a cheque default case is directory rather than mandatory. Justice Avinash Gharote of the...
![Deduction of Compensation paid for Breach of Contract cannot be allowed based on Bank Statement alone: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Deduction-Compensation-Bank-Statement-ITAT-taxscan.jpeg "Deduction of Compensation paid for Breach of Contract cannot be allowed based on Bank Statement alone: ITAT [Read Order]")
![Compensation Received for Relinquishment of Right in a Property is assessable under ‘Income from Capital Gains’ and eligible for Deduction u/s 54F: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Relinquishment-Property-Income-Capital-Gains-Deduction-ITAT-Taxscan.jpg "Compensation Received for Relinquishment of Right in a Property is assessable under ‘Income from Capital Gains’ and eligible for Deduction u/s 54F: ITAT [Read Order]")
![Compensation Received by Assessee as Salary Received in Advance: ITAT holds Assessee can Avail Relief on Terminal Compensation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Compensation-Received-Assessee-Salary-Received-ITAT-Assessee-Avail-Terminal-Compensation-Taxscan.jpeg "Compensation Received by Assessee as Salary Received in Advance: ITAT holds Assessee can Avail Relief on Terminal Compensation [Read Order]")
![Interest received on Enhanced Compensation during Land Acquisition is not Taxable: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/05/Interest-Compensation-Land-Acquisition-Taxable-ITAT-taxscan.jpeg "Interest received on Enhanced Compensation during Land Acquisition is not Taxable: ITAT [Read Order]")
Delay in Completing Assessment after 4 Years of Search: Bombay HC allows Compensation to Assessee [Read Order]
A division bench of the Bombay High Court has directed the income tax department to pay interest by way of compensation/ damages to the assessee for the delay in completing assessment after search...
![Delay in Completing Assessment after 4 Years of Search: Bombay HC allows Compensation to Assessee [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Delay-Completing-Assessment-Bombay-HC-Compensation-Assessee-Taxscan.jpeg "Delay in Completing Assessment after 4 Years of Search: Bombay HC allows Compensation to Assessee [Read Order]")
Interest received on Enhanced Compensation does not come under ‘Income from Other Sources’ u/s 56 and does not Attracts TDS u/s 194A: ITAT [Read Order]
The New Delhi bench of Income Tax Appellate Tribunal( ITAT ) has held that interest received on enhanced compensation not comes under ‘income from other sources’ u/s 56 and not attracts Tax Deduction...
![Interest received on Enhanced Compensation does not come under ‘Income from Other Sources’ u/s 56 and does not Attracts TDS u/s 194A: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Interest-Compensation-Income-from-Other-Source-TDS-ITAT-TAXSCAN.jpeg "Interest received on Enhanced Compensation does not come under ‘Income from Other Sources’ u/s 56 and does not Attracts TDS u/s 194A: ITAT [Read Order]")
Compensation for Sterilization of the Profit Earning Source is a Capital Receipt and not Liable to Tax: ITAT [Read Order]
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has held that the amount of compensation received by the assesse for sterilization of the profit earning source is a capital receipt...
![Compensation for Sterilization of the Profit Earning Source is a Capital Receipt and not Liable to Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Compensation-Sterilization-Profit-Earning-Source-Capital-Receipt-Liable-to-Tax-ITAT-Taxscan.jpg "Compensation for Sterilization of the Profit Earning Source is a Capital Receipt and not Liable to Tax: ITAT [Read Order]")
Rajasthan HC refers issue of Interest on Compensation for Motor Accident Claims exigible to Tax, is insurance company required to deduct TDS to Larger Bench [Read Order]
The Rajasthan High Court has referred the issue of interest on compensation for motor accident claims exigible to tax, does the insurance companies are required to deduct TDS to Larger Bench. ...
![Rajasthan HC refers issue of Interest on Compensation for Motor Accident Claims exigible to Tax, is insurance company required to deduct TDS to Larger Bench [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/02/Rajasthan-High-Court-Rajasthan-HC-interest-compensation-motor-accident-tax-insurance-company-deduct-TDS-Larger-Benc.jpg "Rajasthan HC refers issue of Interest on Compensation for Motor Accident Claims exigible to Tax, is insurance company required to deduct TDS to Larger Bench [Read Order]")
Compensation received for refraining from carrying on Competitive Business was Capital Receipt, not Taxable: Madras High Court [Read Judgment]
The Madras High Court while dismissing the appeal of the revenue held that the Compensation received for refraining from carrying on competitive business was a capital receipt is not taxable during...
![Compensation received for refraining from carrying on Competitive Business was Capital Receipt, not Taxable: Madras High Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2021/04/Compensation-competitive-business-capital-receipt-Madras-HC-Taxscan.jpg "Compensation received for refraining from carrying on Competitive Business was Capital Receipt, not Taxable: Madras High Court [Read Judgment]")
Interest received on delayed Compensation for Compulsory Land Acquisition exempted from Income Tax: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT) Chennai, has ruled that interest received by the assessee towards delayed payment of compensation for compulsory acquisition of land is akin to compensation...
![Interest received on delayed Compensation for Compulsory Land Acquisition exempted from Income Tax: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/02/Compensation-Compulsory-Land-Acquisition-exempted-from-Income-Tax-ITAT-Taxscan.jpg "Interest received on delayed Compensation for Compulsory Land Acquisition exempted from Income Tax: ITAT [Read Order]")
