Taxability of compensation received by assessee for non-delivery of Villa under Builder-Buyer Agreement

Smt. Abha Bansal Vs. Pr. CIT (Central) (ITAT Delhi)

Taxability of the compensation received by the assessee for non-delivery of the Villa under Builder-Buyer Agreement

The compensation received by the assessee on cancellation of the Builder-Buyer Agreement is capital receipt and taxable as capital gains. The view of the A.O. was, therefore, in accordance with Law and cannot be impeached by the Learned PCIT. In view of the above, we do not subscribe to the view of the Ld. D

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