https://www.taxtmi.com/caselaws?id=120882 The Tribunal upheld the decision that the compensation received for early termination of a lease was non-taxable, following precedents that it retained the character of rent income from house property. The Tribunal also confirmed the capitalization of bill discounting charges and traveling expenses as work-in-progress, allowing them as expenditures in the succeeding year upon project completion. The revenue's appeal was dismissed, and the assessee's cross objections were allowed for statistical purposes. en-us Mon, 29 Oct 2007 00:00:00 +0530 Wed, 25 Jul 2012 11:38:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120882 The Tribunal upheld the decision that the compensation received for early termination of a lease was non-taxable, following precedents that it retained the character of rent income from house property. The Tribunal also confirmed the capitalization of bill discounting charges and traveling expenses as work-in-progress, allowing them as expenditures in the succeeding year upon project completion. The revenue's appeal was dismissed, and the assessee's cross objections were allowed for statistical purposes. Case-Laws Income Tax Mon, 29 Oct 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120882