Compensation for ‘loss of source of income’ is a capital receipt

DCIT Vs Rishabh Infrastructure Pvt. Ltd. (ITAT Raipur) We find a MOU was executed on 19.11.2001 between the assessee and LIPL with an object of construction of railway track and siding by the assessee for LIPL from Nipaniya Railway Station to the Sonadih Plant of LIPL for streamlining the transportation cost of cement and clinker in its Sonadih Plant. The construction of Railway Track & Siding involved complex work right from procurement of land, Civil Work/Earth Work, Laying of Railway Tracks, Electrifications, Signaling Arrangement etc. The assessee company had been formed with the sole ...