https://www.taxtmi.com/caselaws?id=3005 The High Court ruled in favor of the assessee, determining that the compensation received for surrendering tenancy rights was not taxable under capital gains for the assessment year 1994-95, as the cost of acquisition for tenancy rights was indeterminable. The Court held that the transfer of tenancy rights constituted a capital asset, not casual income, and should be taxed under specific provisions of the Income Tax Act. The case was decided in favor of the assessee, and the tax case was allowed without costs. en-us Mon, 16 Apr 2007 00:00:00 +0530 Wed, 30 Jul 2008 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3005 The High Court ruled in favor of the assessee, determining that the compensation received for surrendering tenancy rights was not taxable under capital gains for the assessment year 1994-95, as the cost of acquisition for tenancy rights was indeterminable. The Court held that the transfer of tenancy rights constituted a capital asset, not casual income, and should be taxed under specific provisions of the Income Tax Act. The case was decided in favor of the assessee, and the tax case was allowed without costs. Case-Laws Income Tax Mon, 16 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3005