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Compensation for Share Purchase Agreement Cancellation is Taxable Income, Confirmed as Revenue Receipt in Business Context.

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....Nature of compensation received towards cancellation of share purchase agreement - Capital receipt (non taxable) or revenue receipt - failure to fulfill the terms of agreement - The compensation received for failure of such decision being taken in the course of carrying on its normal line of business was rightly held to be taxable receipt in the hands of the assessee - AT....

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Compensation for Share Purchase Agreement Cancellation is Taxable Income, Confirmed as Revenue Receipt in Business Context.