https://www.taxtmi.com/caselaws?id=461499 The Tribunal ruled that compensation received for construction-related nuisance is a capital receipt, not income from other sources. Applying precedent from Kushal K Bangla case, the Tribunal determined the receipt's nature is based on the receiver's perspective. The compensation would reduce the cost of the capital asset and was not taxable under Section 56 of the Income Tax Act, 1961. The SC's guidance in Dr. George Thomas K vs CIT was instrumental in this decision. en-us Fri, 17 Feb 2017 00:00:00 +0530 Wed, 09 Apr 2025 18:59:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461499 The Tribunal ruled that compensation received for construction-related nuisance is a capital receipt, not income from other sources. Applying precedent from Kushal K Bangla case, the Tribunal determined the receipt's nature is based on the receiver's perspective. The compensation would reduce the cost of the capital asset and was not taxable under Section 56 of the Income Tax Act, 1961. The SC's guidance in Dr. George Thomas K vs CIT was instrumental in this decision. Case-Laws Income Tax Fri, 17 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461499