https://www.taxtmi.com/caselaws?id=397141 The Tribunal determined that the assessee did not earn any capital gain from the transfer of land under the tripartite agreement but received grants from the government. The grants did not accrue in the impugned year, except for a specific amount. The amount paid to the State Government was deemed utilized for charitable purposes. As the amounts were considered grants and not capital gains, they were not taxable in the impugned year. Consequently, the appeal of the assessee was allowed, and the Revenue's appeal was dismissed. en-us Tue, 30 Jun 2020 00:00:00 +0530 Thu, 06 Aug 2020 07:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397141 The Tribunal determined that the assessee did not earn any capital gain from the transfer of land under the tripartite agreement but received grants from the government. The grants did not accrue in the impugned year, except for a specific amount. The amount paid to the State Government was deemed utilized for charitable purposes. As the amounts were considered grants and not capital gains, they were not taxable in the impugned year. Consequently, the appeal of the assessee was allowed, and the Revenue's appeal was dismissed. Case-Laws Income Tax Tue, 30 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397141