https://www.taxtmi.com/caselaws?id=118644 The Tribunal partly allowed both appeals, upholding the CIT(A)'s decision on various grounds. The compensation for loss of business was deemed taxable as business receipt. The accrual of compensation income in 1992-93 was upheld. Expenses on repairs were treated as capital expenditure. The provision for pro rata premium on debenture redemption was allowed. The provision for bad debts was remanded for reconsideration. Disallowance of non-repatriable foreign assets was upheld. Compensation for release of employees and surrender of tenancy rights was considered revenue receipt. Various other expenses were either allowed or partially disallowed, with some issues remanded for fresh adjudication. en-us Fri, 11 Nov 2005 00:00:00 +0530 Wed, 04 Jul 2012 17:05:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118644 The Tribunal partly allowed both appeals, upholding the CIT(A)'s decision on various grounds. The compensation for loss of business was deemed taxable as business receipt. The accrual of compensation income in 1992-93 was upheld. Expenses on repairs were treated as capital expenditure. The provision for pro rata premium on debenture redemption was allowed. The provision for bad debts was remanded for reconsideration. Disallowance of non-repatriable foreign assets was upheld. Compensation for release of employees and surrender of tenancy rights was considered revenue receipt. Various other expenses were either allowed or partially disallowed, with some issues remanded for fresh adjudication. Case-Laws Income Tax Fri, 11 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118644