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

Case Law Details

Case Name : ACIT Vs Kenneth Builders &
Appeal Number : Developers Limited (ITAT Mumbai)
Date of Judgement/Order : ITA No. 2396/Mum/2021
Related Assessment Year : 30/12/2022
Courts : All ITAT ITAT Mumbai
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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.

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Name: POONAM GANDHI
Qualification: CA in Practice
Company: N/A
Location: AHMEDABAD, Gujarat, India
Member Since: 14 Feb 2019 | Total Posts: 5606
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