{"id":6149,"date":"2019-07-18T09:34:35","date_gmt":"2019-07-18T09:34:35","guid":{"rendered":"http:\/\/itatonline.org\/digest\/chheda-housing-development-corporation-v-acit-mum-trib-www-itatonline-org\/"},"modified":"2021-06-23T20:01:53","modified_gmt":"2021-06-23T14:31:53","slug":"chheda-housing-development-corporation-v-acit-mum-trib-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/chheda-housing-development-corporation-v-acit-mum-trib-www-itatonline-org\/","title":{"rendered":"Chheda Housing Development Corporation v. ACIT ( 2019) 179 ITD 154\/(2020) 191 DTR 289\/ 205 TTJ 929   (Mum.)(Trib.), www.itatonline.org"},"content":{"rendered":"<p>Tribunal held that the only right that accrues to the assessee who complains of breach is right to file a suit for recovery of damages from the defaulting party. A breach of contract does not give rise to any debt. A right to recover damages is not assignable because it is not a chose-in-action. Such a mere &#8216;right to sue&#8217; is neither a capital asset u\/s 2(14) nor is it capable of being transferred &amp; is therefore not chargeable under u\/s 45 of the Act. (ITA No. 86\/Mum\/2017, dt. 29.05.219)(AY. 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 4 : Charge of income-tax-Capital or revenue-Right to sue-  Damages received for breach of development agreement are capital in nature &#038; not chargeable to tax. [S. 2(14), 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-6149","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1Bb","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6149","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=6149"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6149\/revisions"}],"predecessor-version":[{"id":19582,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6149\/revisions\/19582"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}