09 July 2015
One of my friend booked a flat with a construction company and paid 85 lakhs. Later as they have not handed-over the property on time. He filed a case in the court and got some money return back say 1 crore ten lakhs(as some amt as compensation) and he paid lawyer fees and court fees of 12 lakhs nearly. there is a profit of 8 lkahs approx.
Is it a capital gain or Income from other sources.
CAclubindia
