The assessee is a tuition teacher by profession. \u00a0The assessee received hardship compensation from the developer . The \u00a0assessee has shown the said receipt \u00a0as capital receipts . The Assessing Officer assessed the receipts \u00a0\u00a0as income from other sources . \u00a0On appeal the CIT(A) affirmed the order of the Assessing Officer . On appeal the Tribunal held the assessee has received the amount from builder and the same will not come under the purview of the income within the \u00a0meaning of section 2(24) of the Act . The hardship compensation is a capital receipt hence not taxable .The Tribunal has relied on various judgements of the Tribunal and deleted the addition . (AY. 2012-13, 2015 \u2013 16, 2016-17) ( ITA Nos.1081\/ 1082\/ 1083 \/2024 (Mum) \u201cD\u201d \u00a0dt. 23 -9 -2024 )<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 4 : Charge of income-tax -Income – Capital or revenue – Member of Society \u2013 Hardship compensation amount received from builder is capital receipt \u2013 Not taxable as income from other sources .[ S.2(24), 56 ] <\/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":[21],"tags":[],"class_list":["post-47354","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-cjM","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47354","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=47354"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47354\/revisions"}],"predecessor-version":[{"id":47355,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/47354\/revisions\/47355"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=47354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=47354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=47354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}