https://www.taxtmi.com/caselaws?id=420791 The Tribunal upheld the CIT(A)'s decision that the compensation received from Lafarge India Pvt. Ltd. was a capital receipt due to the loss of the source of income, not chargeable to tax. The Revenue's challenge was dismissed as the compensation was deemed to be for the sterilization of the profit-making apparatus, qualifying it as a capital receipt. The Tribunal referenced its earlier decision in the assessee's case for AY 2011-12, which had already been finalized, leading to the dismissal of the appeals and cross-objections. en-us Wed, 06 Apr 2022 00:00:00 +0530 Fri, 08 Apr 2022 21:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420791 The Tribunal upheld the CIT(A)'s decision that the compensation received from Lafarge India Pvt. Ltd. was a capital receipt due to the loss of the source of income, not chargeable to tax. The Revenue's challenge was dismissed as the compensation was deemed to be for the sterilization of the profit-making apparatus, qualifying it as a capital receipt. The Tribunal referenced its earlier decision in the assessee's case for AY 2011-12, which had already been finalized, leading to the dismissal of the appeals and cross-objections. Case-Laws Income Tax Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420791