COMPENSATORY DAMAGES

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... My client got badly injured while travelling in a lift.Now he will be getting compensation from the Company, the manufacturer of the lift. Whether the amount recd will be taxble or not. If yes under .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... which section and if No under which section. is there any case law in support of the decision. Thanks. - Reply By CA Rachit Agarwal - The Reply = In my opinion the said receipt will be taxable. S .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ection 10BC, exempts the amount received from State Government/State Government if the amount received on account of disaster. As the amount received is on accountant of injury caused due to mishappen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ing of the lift, and the same is not covered under the definition of disaster. Further the amount is not niether receivable from the State Government nor Central Government. - COMPENSATORY DAMAGES - .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Query Started By: - RAVINDER GAMBHIR Dated:- 20-10-2010 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X