https://www.taxtmi.com/caselaws?id=210350 The tribunal upheld the decision of the Commissioner of Income-tax [Appeals] in the case for Assessment Year 2007-08. The receipt of Rs. 24,82,500 for granting easement rights was deemed a capital receipt not taxable under any provision of law. The tribunal agreed with the assessee that the receipt, related to a capital asset, could only be taxed under 'capital gains', but due to its intangible nature and lack of cost basis, it was not taxable according to legal precedents. The department's appeal was dismissed. en-us Fri, 20 May 2011 00:00:00 +0530 Wed, 08 Feb 2012 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210350 The tribunal upheld the decision of the Commissioner of Income-tax [Appeals] in the case for Assessment Year 2007-08. The receipt of Rs. 24,82,500 for granting easement rights was deemed a capital receipt not taxable under any provision of law. The tribunal agreed with the assessee that the receipt, related to a capital asset, could only be taxed under 'capital gains', but due to its intangible nature and lack of cost basis, it was not taxable according to legal precedents. The department's appeal was dismissed. Case-Laws Income Tax Fri, 20 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210350