https://www.taxtmi.com/caselaws?id=283136 The Hon'ble High Court ruled that compensation received for surrendering tenancy rights constitutes a capital receipt not subject to capital gains tax or classified as casual or non-recurring income. The surrender of tenancy rights was not considered a "transfer" under section 2(47). The distinction between statutory and contractual tenants for tax purposes was deemed unjustified. The Tribunal was directed to reassess whether the received amount should be included in "book profit" under section 115J. The appeal was partly allowed, with the matter remanded for further consideration. en-us Fri, 23 Nov 2001 00:00:00 +0530 Mon, 09 Sep 2019 16:53:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283136 The Hon'ble High Court ruled that compensation received for surrendering tenancy rights constitutes a capital receipt not subject to capital gains tax or classified as casual or non-recurring income. The surrender of tenancy rights was not considered a "transfer" under section 2(47). The distinction between statutory and contractual tenants for tax purposes was deemed unjustified. The Tribunal was directed to reassess whether the received amount should be included in "book profit" under section 115J. The appeal was partly allowed, with the matter remanded for further consideration. Case-Laws Income Tax Fri, 23 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283136