High Court Confirms Tenancy Rights Surrender Payments are Capital Receipts, Not Taxable u/s 10(3) of Income Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Capital receipt versus casual and non-recurring income - Whether the Tribunal was right in holding that Section 10(3) of the Income Tax Act, 1961 was not applicable and that the amount received for surrender of tenancy right was not assessable to tax under the Income-Tax Act, 1961 - Held yes. .... - HC....