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compensation recd u/s 138 negotiable inst act

This query is : Resolved 
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(Querist)
12 May 2009
PArty had issued cheques of Rs3.0 lacs to me, which got bounced due to insufficiency of funds in party's a/c.

As per court order I have been paid Rs 4 lacs 3 lacs towards orignal amount due+ 1.00 lacs as additional compensation.


Is additional amount of Rs 1.00 recd towards compensation be taxable in my hands

Regards
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rakesh sharma

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rakesh sharma (Querist)
12 May 2009 123
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rakesh sharma

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rakesh sharma (Querist)
12 May 2009 123
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jegannath G

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jegannath G (Expert)
12 May 2009 yes it is an income for you
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jegannath G

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jegannath G (Expert)
12 May 2009 yes it is an income for you
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