https://www.taxtmi.com/caselaws?id=122427 Receipts from a land transaction were apportioned between relinquishment of a right to purchase property and services relating to possession and dispute settlement. The amount attributable to relinquishment was a capital receipt, but capital gains could not be charged because its cost of acquisition was indeterminable. Any amount attributable to services could be taxed only as net income after substantiated expenditure. Survey statements lacked independent evidentiary value without corroboration, and admissions could be explained or retracted. Additions based on uncorroborated survey statements, third-party books and MoU material, without an effective opportunity for cross-examination, breached natural justice and were unsustainable. en-us Fri, 26 Mar 2010 00:00:00 +0530 Sat, 19 Aug 2023 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122427 Receipts from a land transaction were apportioned between relinquishment of a right to purchase property and services relating to possession and dispute settlement. The amount attributable to relinquishment was a capital receipt, but capital gains could not be charged because its cost of acquisition was indeterminable. Any amount attributable to services could be taxed only as net income after substantiated expenditure. Survey statements lacked independent evidentiary value without corroboration, and admissions could be explained or retracted. Additions based on uncorroborated survey statements, third-party books and MoU material, without an effective opportunity for cross-examination, breached natural justice and were unsustainable. Case-Laws Income Tax Fri, 26 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122427