{"id":54897,"date":"2025-06-13T11:42:14","date_gmt":"2025-06-13T06:12:14","guid":{"rendered":"https:\/\/itatonline.org\/digest\/mohammed-fakhre-alam-shaikh-v-the-assessing-officer-mum-trib-www-itatonline-org\/"},"modified":"2025-06-13T11:42:14","modified_gmt":"2025-06-13T06:12:14","slug":"mohammed-fakhre-alam-shaikh-v-the-assessing-officer-mum-trib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/mohammed-fakhre-alam-shaikh-v-the-assessing-officer-mum-trib-www-itatonline-org\/","title":{"rendered":"Mohammed Fakhre Alam Shaikh v. The Assessing Officer. ( Mum) ( Trib) www.itatonline .org"},"content":{"rendered":"<p>The assessee was an illegal occupant of land, who was allotted a flat worth \u20b92.59 crores as part of a court settlement after filing a suit against the developer. The AO treated this allotment as taxable income and denied the Section 54F deduction. The assessee argued that the compensation was for surrendering long-occupied premises and thus should be treated as a capital receipt. The ITAT held that the compensation for removing a nuisance is a capital receipt which is outside the scope of section 2(24) and thus the flat\u2019s value was recognised as a non-taxable capital receipt. Relied on \u00a0Shri Kishre D.P. v. ITO ( ITA No. 3796\/Mum\/2014 dt.17-2 -2017 ) (AY. 2018-19) ( ITA No.6153 \/ Mum\/2024 \u00a0\u00a0\u00a0dt. 7-4 -2025 \u00a0) \u00a0\u00a0\u00a0\u00a0(AY.2016 -17 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax \u2013 Compensation \u2013 Surrender of premises &#8211;  Allocated flat as compensation to remove illegal occupant &#8211; The value of flat received by the assessee as compensation for removing nuisance shall constitute capital receipt &#8211; Not taxable.   [ S. 2(24),54F,  56(2)(vii)( b )] <\/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-54897","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ehr","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54897","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=54897"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54897\/revisions"}],"predecessor-version":[{"id":54898,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54897\/revisions\/54898"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}