Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
Settlement compensation received for withdrawal of pending suits and complaints was treated as a capital receipt, not taxable as capital gains or business income, because the assessee had only a right to sue and no enforceable property right capable of transfer. The Tribunal held that a right to sue is a personal right, not a capital asset, and compensation for giving it up does not attract section 45. It also noted that the failed acquisition had deprived the assessee of a prospective source of income. The protective addition was deleted because the disputed amount belonged to other corporate parties, had already been received and accounted for by them, and could not be assessed in the assessee's hands.
Settlement compensation received for withdrawal of pending suits and complaints was treated as a capital receipt, not taxable as capital gains or business income, because the assessee had only a right to sue and no enforceable property right capable of transfer. The Tribunal held that a right to sue is a personal right, not a capital asset, and compensation for giving it up does not attract section 45. It also noted that the failed acquisition had deprived the assessee of a prospective source of income. The protective addition was deleted because the disputed amount belonged to other corporate parties, had already been received and accounted for by them, and could not be assessed in the assessee's hands.
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