India- USA DTAA: Settlement amount against surrender of right to sue, not in nature of future income compensation is not assessable as income: AAR

Brief of the Case

Authority for Advance Rulings held In the case of Aberdeen Claims Administration Inc., USA and Aberdeen Asset Management Plc., UK that there is no doubt that the settlement amount is relatable to Satyam shares, i.e., if shares would not have been purchased the question of class action or right to sue would not have arisen. However, this does not mean that the settlement arrived with the approval of the US Court is to compensate business receipt of Aberdeen investors. The fact r

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