TMI BlogNature of income - Forfeiture of security deposit - termination of certain lease agreement - from...Nature of income - Forfeiture of security deposit - termination of certain lease agreement - from assessee’s point of view, there is no extinguishment of any right. The impugned amount was received as security deposit and a part of the same has been forfeited by the assessee. The security deposit has changed its character upon forfeiture and the same is clearly an income of the assessee - Amount is taxable as Income from House Property - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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