https://www.taxtmi.com/caselaws?id=70723 The tribunal dismissed the department's appeal and upheld the AAC's decision regarding the treatment of the sum paid as damages by the assessee. It clarified the distinction between speculative losses and damages for breach of contract, emphasizing the presence of ready goods and the intention to avoid substantial financial loss as key factors in determining the nature of the transaction. en-us Thu, 19 Jul 1984 00:00:00 +0530 Mon, 18 Apr 2011 17:46:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70723 The tribunal dismissed the department's appeal and upheld the AAC's decision regarding the treatment of the sum paid as damages by the assessee. It clarified the distinction between speculative losses and damages for breach of contract, emphasizing the presence of ready goods and the intention to avoid substantial financial loss as key factors in determining the nature of the transaction. Case-Laws Income Tax Thu, 19 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70723