https://www.taxtmi.com/caselaws?id=203177 The Tribunal held that the compensation received by the assessee for relinquishing his rights in the Nigam property should be classified as "capital gains." The Tribunal directed the Assessing Officer to assess the compensation under the head of "capital gains" and allow permissible deductions. The appeal was partly allowed in favor of the assessee, emphasizing that the transaction involved the relinquishment of a capital asset, not a business activity. en-us Wed, 15 Dec 2010 00:00:00 +0530 Tue, 10 May 2011 07:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203177 The Tribunal held that the compensation received by the assessee for relinquishing his rights in the Nigam property should be classified as "capital gains." The Tribunal directed the Assessing Officer to assess the compensation under the head of "capital gains" and allow permissible deductions. The appeal was partly allowed in favor of the assessee, emphasizing that the transaction involved the relinquishment of a capital asset, not a business activity. Case-Laws Income Tax Wed, 15 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203177