https://www.taxtmi.com/caselaws?id=461536 ITAT Delhi held that compensation received from builder for non-delivery of property constitutes capital receipt, not interest income. Following SC precedent in West Bengal Housing Infrastructure Development Corporation Limited and consistent with Delhi Development Authority, Beacon Projects, and Sawhney Builders decisions, the tribunal ruled compensation for delayed property handover is not chargeable to tax under section 2(28A) of Income Tax Act. No tax deduction at source required under section 194A. Assessee's appeal allowed. en-us Thu, 12 Sep 2024 00:00:00 +0530 Fri, 11 Apr 2025 18:56:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461536 ITAT Delhi held that compensation received from builder for non-delivery of property constitutes capital receipt, not interest income. Following SC precedent in West Bengal Housing Infrastructure Development Corporation Limited and consistent with Delhi Development Authority, Beacon Projects, and Sawhney Builders decisions, the tribunal ruled compensation for delayed property handover is not chargeable to tax under section 2(28A) of Income Tax Act. No tax deduction at source required under section 194A. Assessee's appeal allowed. Case-Laws Income Tax Thu, 12 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461536