{"id":3657,"date":"2019-01-15T12:23:12","date_gmt":"2019-01-15T12:23:12","guid":{"rendered":"http:\/\/itatonline.org\/digest\/bhojison-infrastructure-p-ltd-v-ito-2018-173-itd-436-ahd-trib\/"},"modified":"2019-04-21T00:41:32","modified_gmt":"2019-04-21T00:41:32","slug":"bhojison-infrastructure-p-ltd-v-ito-2018-173-itd-436-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/bhojison-infrastructure-p-ltd-v-ito-2018-173-itd-436-ahd-trib\/","title":{"rendered":"Bhojison Infrastructure (P.) Ltd.  v. ITO  (2018) 173 ITD 436 \/ 172 DTR 281\/ 196 TTJ 196 (Ahd)   (Trib.)"},"content":{"rendered":"<p>Tribunal held that compensation received by assessee\u00a0 in respect of\u00a0\u00a0 right to sue for specific performance of its pre-emptive right to purchase of land is\u00a0 a personal right which did not fall within\u00a0 definition of &#8216;capital asset&#8217; under S .2(14) of the Act . Accordingly the\u00a0 damages received from potential purchaser for such relinquishment of right to sue is a capital receipt which is not taxable . Tribunal also held that the assessee had not received amount of damages under an agreement for not carrying out activity in relation to any business or not to share in know-how, patent, copyright, trademark, license etc. as specified under S. 28(va) of the Act enacted for its taxability under the head of business income. Consequently, it is opined that compensation received in lieu of &#8216;right to sue&#8217; could not be regarded as revenue receipt.\u00a0 ( AY. 2008 -09)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax\u2013Capital or revenue-Capital gains- Capital asset- Right to sue -Development agreement- Builder-Right to sue is a right in personal which cannot be transferred and, thus, amount received as compensation in lieu of said right is not chargeable to tax.  [S. 2(14), 2(47) 28(va), 45]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3657","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-WZ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=3657"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3657\/revisions"}],"predecessor-version":[{"id":5016,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/3657\/revisions\/5016"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=3657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=3657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=3657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}