transit rent in case of redevelopment

CA Mihir Shah (Working with Suresh Surana & Associates)   (231 Points)

25 June 2010  

hi friends,

i want to know whether in case of redevelopment of property the transit rent paid the builder to tenant is taxable under the head "Income from House Property " or it is a capital receipt?


if any relevant case laws exist on the same kindly share it with me..