https://www.taxtmi.com/caselaws?id=116661 The damages received by the assessee were deemed to be capital in nature but were considered as part of the consideration for the sale of the property, making them liable for long-term capital gain tax. The Tribunal directed the Assessing Officer to exclude the damages from the revenue account and subject them to long-term capital gain tax after providing indexation and special tax rates. The appeal was partly allowed, resulting in the damages being subject to long-term capital gain tax treatment. en-us Thu, 20 May 2004 00:00:00 +0530 Thu, 14 Jun 2012 15:45:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116661 The damages received by the assessee were deemed to be capital in nature but were considered as part of the consideration for the sale of the property, making them liable for long-term capital gain tax. The Tribunal directed the Assessing Officer to exclude the damages from the revenue account and subject them to long-term capital gain tax after providing indexation and special tax rates. The appeal was partly allowed, resulting in the damages being subject to long-term capital gain tax treatment. Case-Laws Income Tax Thu, 20 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116661