capital receipts.
16. The appellant would like to submit as to "Why the said Receipts are
required to be considered as Capital Receipts ... capital receipt and not a revenue
receipt". Consideration paid towards loss of source of income is Capital
Receipts.
Copy of Judgement
same are, therefore, Capital Asset. Compensation received for loss of a capital asset is capital receipt. In this case the appellant has received compensation ... assessee that the receipt was a capital receipt on account of loss of capital assets, the entire compensation received by the assessee was assessed
asset of an enduring character, capital in
character, and the compensation paid therefor was a capital
receipt, and (2) that the true character ... compensation therefor, whether that receipt is a capital
receipt or a revenue receipt will depend upon whether it is
compensation for injury inflicted
agency was a
revenue receipt (trading receipt or an income receipt) as
contended by the Revenue or a capital receipt as contended
by the assessee ... receipt in the hands of the assessee would only be a capital
receipt, equally would it be a capital receipt if
compensation was obtained
receipts and hire charges earned from the contractors during the construction period were held to be capital receipts which would go to reduce the capital ... amount of Rs. 63.92 crores received by it as compensation was a capital receipt not chargeable to tax, we are of the view that
acceptance of Arbitration Award is a capital
receipts not on account of any transfer of capital assets ... while a capital
receipt, is not a capital asset under s.2(14) of the Act and thus
compensation received on release of right
book. In view thereof, it was submitted that the impugned receipt is capital receipt and, not liable for tax.
6.3 The CIT (Appeals ... also agreed with the A.O. that receipt in question was not of a capital nature being compensation for an injury to the trading structure
revenue receipt while CIT(A) held it to be a capital receipt as offered as long term capital gains by the assessee. The facts ... compensation therefor, whether the receipt is a capital receipt or a revenue receipt will depend upon whether it is compensation for injury inflicted
nature of a capital receipt and was a
taxable revenue receipt. It was further submitted that receipt of any
FSOP or any FSOP related ... that in order to find out whether a
receipt is a capital receipt or a revenue receipt one has to
see what
capital receipt and that capital
receipts are taxable as capital gains provided such gains accrued from the
transfer of capital assets. Since capital assets were ... capital receipt and not a revenue receipt, the
Supreme Court observed as follows and differentiated a capital receipt from
a revenue receipt:
“Where
