https://www.taxtmi.com/caselaws?id=431959 The Tribunal allowed the assessee's appeal, determining that the compensation received for the pre-closure of its BOT projects was a capital receipt and not taxable as a revenue receipt under Section 28(ii)(d) of the Income Tax Act, 1961. The Revenue's cross appeal challenging the Section 80-IA deduction claim was dismissed as a result. The judgment highlighted the difference between compensation for the loss of an income source and compensation for future income streams, affirming that compensation for the loss of an income source constitutes a capital receipt. en-us Fri, 04 Nov 2022 00:00:00 +0530 Sat, 24 Dec 2022 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431959 The Tribunal allowed the assessee's appeal, determining that the compensation received for the pre-closure of its BOT projects was a capital receipt and not taxable as a revenue receipt under Section 28(ii)(d) of the Income Tax Act, 1961. The Revenue's cross appeal challenging the Section 80-IA deduction claim was dismissed as a result. The judgment highlighted the difference between compensation for the loss of an income source and compensation for future income streams, affirming that compensation for the loss of an income source constitutes a capital receipt. Case-Laws Income Tax Fri, 04 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431959