Compensation for relinquishment of possession of land read
LAWYER ASSOCIATES
(Querist) 03 May 2018
This query is : Resolved
A person received Rs. 350000 for relinquishment of right of possession before sale of property. He is only having possession of piece of land not title. that person having possession from over 30 years. ITO has allegedly made addition of Rs. 350000 to the income of the person. Now the case is under appeal. What are the grounds for relief in that case.
Read more at: https://www.caclubindia.com/experts/compensation-for-relinquishment-of-possession-of-land--2652144.asp
P. Venu
(Expert) 04 May 2018
You have already taken up the matter with the caclubindia, who have better expertise.
T. Kalaiselvan, Advocate
(Expert) 06 May 2018
The possession of land for which he had relinquished his rights is a clear evidence especially when he received a sum as consideration for having transferred/sold his property for consideration, therefore that sum has to be included as an income on tht particular AY, therefore he may have to look for any other reason to defend his interests.
