https://www.taxtmi.com/highlights?id=15375 Even before the assessee's actual business could start, there was a breach by the other party which ended up the said business itself. Thus, clearly this is a case of loss of source of income itself and hence, the compensation which was received by the assessee is on capital field i.e., capital receipt which cannot be taxed under the income laws - AT en-us Tue, 29 Oct 2013 11:07:09 +0530 Tue, 29 Oct 2013 11:07:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=15375 Even before the assessee's actual business could start, there was a breach by the other party which ended up the said business itself. Thus, clearly this is a case of loss of source of income itself and hence, the compensation which was received by the assessee is on capital field i.e., capital receipt which cannot be taxed under the income laws - AT Highlights Income Tax Tue, 29 Oct 2013 11:07:09 +0530 https://www.taxtmi.com/highlights?id=15375