ITAT holds Redevelopment Compensation Cannot Be Taxed as Mere Transit Rent

The assessee received ₹13.50 lakh from a developer under a registered redevelopment agreement and had offered only the balance after rent expenditure to tax. The ITAT held that the receipt itself was compensation for hardship and displacement and therefore a non-taxable capital receipt, while also deleting salary and Chapter VI-A additions where contemporaneous documentary evidence had been wrongly disregarded.