Compensation in out of court settlement

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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.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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

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