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Compensation received for hardship is capital receipt hence not taxable
Case Law Details
- Case Name
- Pushpa R. Chawla Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Mumbai
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Pushpa R. Chawla Vs ITO (ITAT Mumbai)
ITAT Mumbai held that payments/compensation paid by developer is in the nature of hardship allowance / rehabilitation allowance is capital receipt and is not liable to tax.
Facts- The assessee is an individual and she has filed her return of income declaring total income at ₹.9,47,976/-. AO received information from the Income Tax Officer, Mumbai that the assessee is a member of Middle Income Group III Co-operative Housing Society Ltd. The said society had entered into an agreement with M/s. Suyog Happy Homes for redevelopment of the society and as per ...
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