https://www.taxtmi.com/caselaws?id=761705 ITAT Delhi held that compensation received by assessee from builder for non-delivery of property within stipulated time frame constitutes capital receipt and is not chargeable to income tax. The builder failed to deliver unit within 39 months, leading to cancellation of allotment. Compensation calculated at 12% per annum interest was deemed capital in nature, not taxable income. Assessee's appeal was allowed. en-us Wed, 13 Nov 2024 00:00:00 +0530 Fri, 15 Nov 2024 08:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761705 ITAT Delhi held that compensation received by assessee from builder for non-delivery of property within stipulated time frame constitutes capital receipt and is not chargeable to income tax. The builder failed to deliver unit within 39 months, leading to cancellation of allotment. Compensation calculated at 12% per annum interest was deemed capital in nature, not taxable income. Assessee's appeal was allowed. Case-Laws Income Tax Wed, 13 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761705