https://www.taxtmi.com/caselaws?id=390639 The Tribunal held that the income from relinquishing rights under the agreement should be assessed under the head "Capital Gains." The Tribunal remanded the case to the Assessing Officer for computation of capital gains in accordance with Section 48 of the Act, ensuring the Assessee is given due opportunity to present their case. The appeal was allowed for statistical purposes, directing the AO to reassess the gain as capital gains, not business income. en-us Fri, 03 Jan 2020 00:00:00 +0530 Wed, 08 Jan 2020 10:42:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390639 The Tribunal held that the income from relinquishing rights under the agreement should be assessed under the head "Capital Gains." The Tribunal remanded the case to the Assessing Officer for computation of capital gains in accordance with Section 48 of the Act, ensuring the Assessee is given due opportunity to present their case. The appeal was allowed for statistical purposes, directing the AO to reassess the gain as capital gains, not business income. Case-Laws Income Tax Fri, 03 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390639