https://www.taxtmi.com/caselaws?id=359928 The Tribunal partly allowed the assessee's appeal, emphasizing the necessity of a detailed examination and proper application of mind by tax authorities before determining the taxability of amounts such as liquidated damages. It ordered a denovo assessment to verify the taxability of the liquidated damages received by the assessee, highlighting the importance of thorough examination before invoking tax provisions. The Tribunal found that both the Assessing Officer and Director of Income Tax (International Taxation) did not properly apply their minds in this case. en-us Wed, 14 Feb 2018 00:00:00 +0530 Mon, 07 May 2018 08:24:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359928 The Tribunal partly allowed the assessee's appeal, emphasizing the necessity of a detailed examination and proper application of mind by tax authorities before determining the taxability of amounts such as liquidated damages. It ordered a denovo assessment to verify the taxability of the liquidated damages received by the assessee, highlighting the importance of thorough examination before invoking tax provisions. The Tribunal found that both the Assessing Officer and Director of Income Tax (International Taxation) did not properly apply their minds in this case. Case-Laws Income Tax Wed, 14 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359928