https://www.taxtmi.com/caselaws?id=271022 The Delhi High Court set aside the Authority for Advance Rulings' decision that the settlement amount was chargeable under the Income-tax Act, ruling that it was a capital receipt and not taxable unless specifically provided for. The AAR also determined that Section 195 did not apply to the transfer of the settlement amount to the Qualified Settlement Fund (QSF) or its distribution to claimants since it was not chargeable. Consequently, the questions regarding tax deduction rates were deemed irrelevant. The ruling was issued on 12th January 2015. en-us Tue, 12 Jan 2016 00:00:00 +0530 Tue, 03 May 2016 11:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271022 The Delhi High Court set aside the Authority for Advance Rulings' decision that the settlement amount was chargeable under the Income-tax Act, ruling that it was a capital receipt and not taxable unless specifically provided for. The AAR also determined that Section 195 did not apply to the transfer of the settlement amount to the Qualified Settlement Fund (QSF) or its distribution to claimants since it was not chargeable. Consequently, the questions regarding tax deduction rates were deemed irrelevant. The ruling was issued on 12th January 2015. Case-Laws Income Tax Tue, 12 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271022