Compensation received due to non-performance of obligation is capital receipt

ACIT Vs Kenneth Builders & Developers Limited (ITAT Mumbai)

ITAT Mumbai held that compensation received on account of non-performance of obligation by the Delhi Development Authority (DDA) is capital receipt not taxable in the hands of the assessee.

Facts- During the course of assessment the A.O noticed that assesse has treated compensation of Rs.2,78,82,74,243/- received from Delhi Development Authority as a capital receipt not chargeable to tax. The A.O further notic

Please become a Premium member. If you are already a Premium member, login here to access the full content.