Assignment Considerations Are Capital Receipts Not Taxable Under Other Sources, Interest Expenditure Requires Direct Nexus
Assignment Considerations Are Capital Receipts Not Taxable Under Other Sources, Interest Expenditure Requires Direct Nexus Issue Whether consideration received under a Deed of Assignment relinquishing rights/claims in a pending property suit is a capital receipt rather than revenue taxable under ‘Income from other sources’ under Section 56. Whether expenditure claimed against interest income under Section… Read More »