https://www.taxtmi.com/caselaws?id=264183 The High Court dismissed the Revenue's appeal and upheld lower authorities' decisions regarding the taxability of a compensation amount received by the Assessee. The Court ruled in favor of the Assessee, determining that the amount was a capital receipt for breach of promise and not taxable under any head. Additionally, the Court allowed the credit for TDS on the compensation amount, stating it was not taxable as profits in lieu of salary. en-us Wed, 16 Sep 2015 00:00:00 +0530 Tue, 03 May 2016 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264183 The High Court dismissed the Revenue's appeal and upheld lower authorities' decisions regarding the taxability of a compensation amount received by the Assessee. The Court ruled in favor of the Assessee, determining that the amount was a capital receipt for breach of promise and not taxable under any head. Additionally, the Court allowed the credit for TDS on the compensation amount, stating it was not taxable as profits in lieu of salary. Case-Laws Income Tax Wed, 16 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264183