https://www.taxtmi.com/caselaws?id=239655 The tribunal upheld the First Appellate Authority's decision, ruling that the surrender of tenancy rights did not result in taxable capital gains as no actual income was earned during the relevant year. The tribunal emphasized that tax liability is based on realized income, not on unrealized agreements. The appeal filed by the Assessing Officer was dismissed, affirming the non-taxability of the alleged capital gains from the tenancy rights surrender. en-us Wed, 13 Nov 2013 00:00:00 +0530 Tue, 19 Nov 2013 07:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239655 The tribunal upheld the First Appellate Authority's decision, ruling that the surrender of tenancy rights did not result in taxable capital gains as no actual income was earned during the relevant year. The tribunal emphasized that tax liability is based on realized income, not on unrealized agreements. The appeal filed by the Assessing Officer was dismissed, affirming the non-taxability of the alleged capital gains from the tenancy rights surrender. Case-Laws Income Tax Wed, 13 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239655