https://www.taxtmi.com/caselaws?id=16951 The court held that an amount received as damages of Rs. 7,34,000 was not subject to capital gains tax as no property transfer was involved, following the precedent in Vania Silk Mills P. Ltd. v. CIT [1991] 191 ITR 647 (SC). The court directed the Tribunal to refer the question of law regarding the tax liability for further consideration without expressing an opinion on the merits. The applications were allowed, and the Tribunal was instructed to state the cases and refer the question of law, with no costs awarded but fixed counsel fees for each side. en-us Fri, 19 Apr 1996 00:00:00 +0530 Mon, 14 Sep 2009 12:28:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16951 The court held that an amount received as damages of Rs. 7,34,000 was not subject to capital gains tax as no property transfer was involved, following the precedent in Vania Silk Mills P. Ltd. v. CIT [1991] 191 ITR 647 (SC). The court directed the Tribunal to refer the question of law regarding the tax liability for further consideration without expressing an opinion on the merits. The applications were allowed, and the Tribunal was instructed to state the cases and refer the question of law, with no costs awarded but fixed counsel fees for each side. Case-Laws Income Tax Fri, 19 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16951