https://www.taxtmi.com/caselaws?id=65268 The Tribunal upheld the CIT(A)'s decision that the Rs. 30 lakhs received by the assessee was a capital receipt, not taxable as capital gains. It was determined that the assessee was a licensee, not a sub-tenant, and did not own any capital asset in the premises. Therefore, the amount was not subject to tax. The Tribunal also rejected the Revenue's attempt to apply Section 10(3) of the IT Act, as it was not raised in the original assessment. Consequently, the Revenue's appeal was dismissed. en-us Tue, 30 Aug 2005 00:00:00 +0530 Fri, 06 Jul 2012 14:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65268 The Tribunal upheld the CIT(A)'s decision that the Rs. 30 lakhs received by the assessee was a capital receipt, not taxable as capital gains. It was determined that the assessee was a licensee, not a sub-tenant, and did not own any capital asset in the premises. Therefore, the amount was not subject to tax. The Tribunal also rejected the Revenue's attempt to apply Section 10(3) of the IT Act, as it was not raised in the original assessment. Consequently, the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 30 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65268