Compensation in out of court settlement
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 February 2014
Suppose A has filed a case in a court of law,what would be the position of income tax in following cases:
1.) If the compensation is received by way of verdict of the court?
2.) If the compensation is received as a part of out of court settlement?
Are there any citations substantiating the stand?
Thanks in advance.
1.) If the compensation is received by way of verdict of the court?
2.) If the compensation is received as a part of out of court settlement?
Are there any citations substantiating the stand?
Thanks in advance.
13 February 2014
first you need to explain for what purpose the payment is made and between whom ...give all possible details for correct advising.
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 February 2014
Say the matter is in consumer court for which there is a possibility of outside court settlement. If the settlement fizzles out, there would be a court verdict.
Thanks
Thanks
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