1993 (6) TMI 11 - HC - Income Tax

Summary

The High Court of Bombay ruled that the compensation for land acquired, including the 15% solatium, should be considered in computing capital gains. The solatium received for compulsory acquisition is part of the consideration actually received. The decision is in favor of the Revenue. The case referred to is Akola Electric Supply Co. Pvt. Ltd. v. CIT [1978] 113 ITR 265 (Bom).