Settlement Consideration Taxable as ‘Capital Gains’: Delhi HC

Akash Poddar Vs ACIT (Delhi High Court) Delhi HC held that the settlement consideration as received was liable to be recognized as capital gains and the same couldn’t possibly or justifiably be placed in the category of ‘profit in lieu of salary’. Facts- The appellant-assessee impugns the order of ITAT on the question of law that whether in the facts and circumstances of the case, the Tribunal erred in law in artificially and illegally bifurcating the treatment to be accorded to the composite amount of Rs.3.03 crores received by the appellant in pursuance of a settlement for relinquishme...