INCOME UNDER WHICH HEAD
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 December 2009
MY CLIENT IS A PARTNERSHIP FIRM
* BOUGHT PROPERTY IN NAME OF FIRM IN 1989
* SOLD PART OF THE PROPERTY IN 2001, AND WE SHOWED INCOME UNDER CAPITAL GAIN
* IN 2002 PART WAS RESERVED BY CENTRAL GOVT FOR BSNL OFFICE, AND THEY PAID COMPENSATION - WE SHOWED THIS COMPENSATION UNDER CAPITAL GAIN.
* AS THE COMPENSATION WE RECEIVED WAS VERY LESS AND WE FILED A CASE IN COURT OF LAW - KNOW COURT AWARD SOME AMT -
UNDER WHICH HEAD WE HAVE TO SHOW THIS AMT - PLZ GIVE ME GUIDANCE - IF POSSIBLE WITH CASE LAW IF ANY
* BOUGHT PROPERTY IN NAME OF FIRM IN 1989
* SOLD PART OF THE PROPERTY IN 2001, AND WE SHOWED INCOME UNDER CAPITAL GAIN
* IN 2002 PART WAS RESERVED BY CENTRAL GOVT FOR BSNL OFFICE, AND THEY PAID COMPENSATION - WE SHOWED THIS COMPENSATION UNDER CAPITAL GAIN.
* AS THE COMPENSATION WE RECEIVED WAS VERY LESS AND WE FILED A CASE IN COURT OF LAW - KNOW COURT AWARD SOME AMT -
UNDER WHICH HEAD WE HAVE TO SHOW THIS AMT - PLZ GIVE ME GUIDANCE - IF POSSIBLE WITH CASE LAW IF ANY
28 December 2009
Offcourse it is a capital gain.
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