https://www.taxtmi.com/caselaws?id=769745 ITAT Kolkata held that compensation received for under-performance of wind turbine generators was a capital receipt not liable to tax. The tribunal relied on precedents where compensation for machinery under-performance was treated as capital receipt outside taxation purview. Revenue had accepted identical claim in subsequent assessment year. The assessee's appeal was allowed, and the compensation amount was directed to be excluded from assessable income computation. en-us Thu, 24 Apr 2025 00:00:00 +0530 Thu, 01 May 2025 08:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769745 ITAT Kolkata held that compensation received for under-performance of wind turbine generators was a capital receipt not liable to tax. The tribunal relied on precedents where compensation for machinery under-performance was treated as capital receipt outside taxation purview. Revenue had accepted identical claim in subsequent assessment year. The assessee's appeal was allowed, and the compensation amount was directed to be excluded from assessable income computation. Case-Laws Income Tax Thu, 24 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769745