https://www.taxtmi.com/caselaws?id=195634 The Tribunal allowed the appeal, deleting the addition of compensation amount in the revised return, as it was considered capital in nature and not taxable. The Tribunal emphasized the assessee's right to challenge legal issues before the appellate authority and cited Supreme Court judgments supporting the capital nature of the compensation received. The decision highlighted that compensation for delay in possession of a capital asset is not taxable as revenue, leading to the deletion of the addition made by lower authorities. en-us Wed, 08 May 2013 00:00:00 +0530 Mon, 06 Nov 2017 18:25:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195634 The Tribunal allowed the appeal, deleting the addition of compensation amount in the revised return, as it was considered capital in nature and not taxable. The Tribunal emphasized the assessee's right to challenge legal issues before the appellate authority and cited Supreme Court judgments supporting the capital nature of the compensation received. The decision highlighted that compensation for delay in possession of a capital asset is not taxable as revenue, leading to the deletion of the addition made by lower authorities. Case-Laws Income Tax Wed, 08 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195634