https://www.taxtmi.com/highlights?id=99156 Compensation received from a builder under the RERA framework for surrender or termination of booked-property rights was held to arise from extinguishment of rights in a capital asset. The Tribunal treated the receipt as statutory compensation linked to rights acquired earlier and paid for over time, and applied section 2(47)(ii) to regard the extinguishment as a transfer. It therefore rejected assessment under section 56 as income from other sources and accepted the assessee's treatment of the amount as long-term capital gains. en-us Sat, 25 Apr 2026 08:51:42 +0530 Sat, 25 Apr 2026 08:51:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=99156 Compensation received from a builder under the RERA framework for surrender or termination of booked-property rights was held to arise from extinguishment of rights in a capital asset. The Tribunal treated the receipt as statutory compensation linked to rights acquired earlier and paid for over time, and applied section 2(47)(ii) to regard the extinguishment as a transfer. It therefore rejected assessment under section 56 as income from other sources and accepted the assessee's treatment of the amount as long-term capital gains. Highlights Income Tax Sat, 25 Apr 2026 08:51:42 +0530 https://www.taxtmi.com/highlights?id=99156