Tag Archives: Compensation

No Taxability of compensation received by land owners under RFCTLARR Act : CBDT Circular Clarify

By | October 26, 2016

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ITA.II division, North Block, New Delhi, Circular No. 36/2016 Dated: 25th of October, 2016 Subject: Taxability of the compensation received by the land owners for the land acquired under the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and… Read More »

Compensation for loss of source of Income is Capital Receipt

By | January 29, 2016

Held It was further observed in Khanna & Annadhanam (supra) as under: “The arrangement with DHS was in vogue for a fairly long period of time (13 years) and had acquired a kind of permanency as a source of income. When that source was unexpectedly terminated, it amounted to the impairment of the profit-making structure… Read More »

Compensation on death of guest in swimming pool of hotel is allowable Expenses

By | December 3, 2015

IN THE ITAT KOLKATA BENCH ‘A’ EIH Ltd. v. Deputy Commissioner of Income-tax, Circle-8, Kolkata MAHAVIR SINGH, JUDICIAL MEMBER AND M. BALAGANESH, ACCOUNTANT MEMBER IT APPEAL NOS. 316 & 426 (KOL.) OF 2006 & 1808 (KOL.) OF 2007 [ASSESSMENT YEAR 2002-03] SEPTEMBER  11, 2015 Facts of the Case (Para no 14) :- The brief facts… Read More »

Seller entitled for Compensation in case unduly delay by purchaser : Supreme Court

By | November 2, 2015

while dealing with a matter pertaining to specific performance of an agreement for sale of property, it was held that if the purchaser is entitled to claim compensation for deterioration, a fortiori the vendor should also be entitled to compensation for accretion in value of the subject matter of the agreement for specific performance, in case the execution thereof… Read More »

Compensation Deposited in the government treasury not equivalent to paid to landowners : Supreme court

By | November 2, 2015

Supreme Court of India  Pune Municipal Corporation & Anr. v. Harakchand Misirimal Solanki & Ors. [Civil Appeal No. 877 of 2014],  24th January, 2014 In a land acquisition matter, it was held that deposit of the amount of compensation in the government treasury cannot be said to be equivalent to the amount of compensation paid… Read More »