https://www.taxtmi.com/caselaws?id=245279 Compensation received on relinquishment of the right to obtain conveyance of land and to sue for specific performance was held not taxable as capital gains because a mere right to sue is not property capable of transfer under section 6(e) of the Transfer of Property Act and therefore is not a capital asset under section 2(14) of the Income-tax Act. The Tribunal applied binding jurisdictional authority and the taxpayer-favourable interpretation where divergent views existed, and upheld deletion of the addition. en-us Wed, 19 Mar 2014 00:00:00 +0530 Tue, 25 Mar 2014 08:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245279 Compensation received on relinquishment of the right to obtain conveyance of land and to sue for specific performance was held not taxable as capital gains because a mere right to sue is not property capable of transfer under section 6(e) of the Transfer of Property Act and therefore is not a capital asset under section 2(14) of the Income-tax Act. The Tribunal applied binding jurisdictional authority and the taxpayer-favourable interpretation where divergent views existed, and upheld deletion of the addition. Case-Laws Income Tax Wed, 19 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245279