Builder has given me compensation for incomplete and late possession n of flat Rs 12 lacks.Is it mandetary to pay income tax on this amount or is it waived of from IT department.is there any case Law regarding the income tax on compensation
Ram Kulkarni (Director) 03 September 2014
Builder has given me compensation for incomplete and late possession n of flat Rs 12 lacks.Is it mandetary to pay income tax on this amount or is it waived of from IT department.is there any case Law regarding the income tax on compensation
T. Kalaiselvan, Advocate (Advocate) 08 September 2014
Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 08 September 2014
Please you can refer this case for your problem.ICIT vs M/s.Saurashtra Cement Ltd. 2010-T10 L-49-SC-IT Suprement court
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