Compensation received by lessor on account of termination of lease due to sale of property is capital receipt

INCOME TAX: Where property already given on 99 years lease was sold to lessee itself and apart from consideration which was higher than stamp duty value, compensation was received towards termination of lease, compensation so received was for loss of source of income which was to be considered as capital receipt, and as not revenue receipt

from www.taxmann.com Latest Case Laws https://ift.tt/2NPQHTG