https://www.taxtmi.com/caselaws?id=70062 Consideration received for relinquishing leasehold or tenancy-related rights is taxable as long-term capital gains where the substance of the arrangement shows an assignment or transfer of those rights to another tenant for value. The text distinguishes a simple surrender of tenancy rights from a transfer of a capital asset, emphasising that the operative character of the transaction depends on its real substance rather than the wording used in the documents. On the stated facts, the receipt was treated as part of a transfer arrangement and not as a non-taxable surrender receipt. en-us Tue, 26 Jun 2001 00:00:00 +0530 Thu, 14 Apr 2011 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70062 Consideration received for relinquishing leasehold or tenancy-related rights is taxable as long-term capital gains where the substance of the arrangement shows an assignment or transfer of those rights to another tenant for value. The text distinguishes a simple surrender of tenancy rights from a transfer of a capital asset, emphasising that the operative character of the transaction depends on its real substance rather than the wording used in the documents. On the stated facts, the receipt was treated as part of a transfer arrangement and not as a non-taxable surrender receipt. Case-Laws Income Tax Tue, 26 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70062