https://www.taxtmi.com/caselaws?id=212550 The Tribunal concluded that the compensation received for the removal of apple trees and changes in land topography is a capital receipt. The compensation should be assessed under the head "income from capital gains" as it arises from the transfer of capital assets. The Tribunal set aside the CIT(A)'s order and directed the AO to reassess the income after allowing a reasonable opportunity to the assessee. The appeals of the Revenue were partly allowed, and similar directions were issued for other captioned appeals, restoring them to the AO for adjudication based on the Tribunal's findings. en-us Thu, 24 Nov 2011 00:00:00 +0530 Tue, 20 Nov 2012 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212550 The Tribunal concluded that the compensation received for the removal of apple trees and changes in land topography is a capital receipt. The compensation should be assessed under the head "income from capital gains" as it arises from the transfer of capital assets. The Tribunal set aside the CIT(A)'s order and directed the AO to reassess the income after allowing a reasonable opportunity to the assessee. The appeals of the Revenue were partly allowed, and similar directions were issued for other captioned appeals, restoring them to the AO for adjudication based on the Tribunal's findings. Case-Laws Income Tax Thu, 24 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212550