https://www.taxtmi.com/caselaws?id=269658 The Tribunal affirmed that interest income, tax deducted at source, and compensation for breach of contract were all considered capital in nature, not taxable as income at the time of receipt. The compensation for breach of contract was deemed to relate to capital assets, reducing the cost of acquisition for capital gains tax purposes. The Tribunal's decision, supported by legal precedents, dismissed the Revenue's appeal, clarifying the treatment of such compensation as capital in nature. en-us Wed, 13 May 2015 00:00:00 +0530 Fri, 18 Dec 2015 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269658 The Tribunal affirmed that interest income, tax deducted at source, and compensation for breach of contract were all considered capital in nature, not taxable as income at the time of receipt. The compensation for breach of contract was deemed to relate to capital assets, reducing the cost of acquisition for capital gains tax purposes. The Tribunal's decision, supported by legal precedents, dismissed the Revenue's appeal, clarifying the treatment of such compensation as capital in nature. Case-Laws Income Tax Wed, 13 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269658