Assessee has received the compensation in his capacity as a ...
Income Tax
July 21, 2017
Assessee has received the compensation in his capacity as a member of the society and not as an agriculturist - The amount received by assessee has to be taxed as capital gains and not under the head ‘income from other sources’ because assessee had parted with the membership of society. - however, the indexation is to be allowed with reference to the dates of payments made by assessee
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