Undisputed Tenancy Right is Capital Asset & Amount Received on its Surrender is Assessable as Capital gain

ITAT MUMBAI BENCH ‘A’ Kewal Silk Mills Versus Assistant Commissioner of Income-tax IT APPEAL NO. 4335 (MUM.) OF 2012 [ASSESSMENT YEAR 2009-10] OCTOBER 12, 2012 ORDER I.P. Bansal, Judicial Member. This appeal is filed by the assessee. It is directed against the order passed by the learned Commissioner of Income-tax (Appeals)-25, Mumbai dated June 20, 2012 for the assessment year 2009-10. The grounds of appeal raised by the assessee read as under : “1. The learned Commissioner of Income-tax (Appeals) has erred in law and on the facts of the case in sustaining the order of the...