https://www.taxtmi.com/caselaws?id=251033 The High Court held that the enhanced compensation received by the assessee for the acquisition of tenancy rights was taxable as capital gains in the assessment year 1988-89. The Court determined that the cost of acquisition of tenancy rights could be ascertained, making the compensation taxable even prior to the amendment in Section 55(2) by the Finance Act, 1994. The appeal was decided in favor of the Revenue, ruling against the assessee, with no order as to costs. en-us Thu, 28 Aug 2014 00:00:00 +0530 Mon, 01 Sep 2014 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251033 The High Court held that the enhanced compensation received by the assessee for the acquisition of tenancy rights was taxable as capital gains in the assessment year 1988-89. The Court determined that the cost of acquisition of tenancy rights could be ascertained, making the compensation taxable even prior to the amendment in Section 55(2) by the Finance Act, 1994. The appeal was decided in favor of the Revenue, ruling against the assessee, with no order as to costs. Case-Laws Income Tax Thu, 28 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251033