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Claim for furniture destroyed written off

This query is : Resolved 

27 December 2013 Hi!!!! experts
i want to ask that there was a hotel in which one room catched fire and the whole furniture got destroyed and accordingly it was written off 100%.Now after sometime an assessee got insurance claim.In which head should he show his claim either under other sources or income from capital gain????

27 December 2013 Hi

As per Section 45(1A) any insurance claim received is taxable under the head capital gain

Thanks//VaibhavJ

27 December 2013 thanks a ton sir!!!!!!!


27 December 2013 Welcome

Thanks//VaibhavJ



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