https://www.taxtmi.com/highlights?id=68401 Capital gain - compromise settlement for breach of contract - Transfer u/s 2(47) - the compensation received by the assessee arises out of the transfer of capital asset in the nature of relinquishment of the specific performance of the contract shall be treated as transfer of capital asset within the meaning of section 2(47) of the Act, and hence it is a capital gains under the Income Tax Act, 1961 and exigible to tax. - AT en-us Wed, 22 Feb 2023 18:09:18 +0530 Wed, 22 Feb 2023 18:09:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=68401 Capital gain - compromise settlement for breach of contract - Transfer u/s 2(47) - the compensation received by the assessee arises out of the transfer of capital asset in the nature of relinquishment of the specific performance of the contract shall be treated as transfer of capital asset within the meaning of section 2(47) of the Act, and hence it is a capital gains under the Income Tax Act, 1961 and exigible to tax. - AT Highlights Income Tax Wed, 22 Feb 2023 18:09:18 +0530 https://www.taxtmi.com/highlights?id=68401