https://www.taxtmi.com/caselaws?id=331703 The ITAT Mumbai allowed the appeal in favor of the assessee concerning additions made to the total income as income from other sources. The tribunal ruled that the amount received as a corpus fund was a capital receipt and not taxable income. Additionally, the rent paid by the developer during project development was considered compensation and not income, thus not part of the assessee's income. The appeal was partly allowed, emphasizing the non-taxability of capital receipts unless specified in the Income Tax Act. en-us Fri, 12 Aug 2016 00:00:00 +0530 Thu, 16 Apr 2026 15:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=331703 The ITAT Mumbai allowed the appeal in favor of the assessee concerning additions made to the total income as income from other sources. The tribunal ruled that the amount received as a corpus fund was a capital receipt and not taxable income. Additionally, the rent paid by the developer during project development was considered compensation and not income, thus not part of the assessee's income. The appeal was partly allowed, emphasizing the non-taxability of capital receipts unless specified in the Income Tax Act. Case-Laws Income Tax Fri, 12 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=331703