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Compensation

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(Querist)
26 February 2018 compensation awarded to the landlord for damages done to his premises rented by the tenent. Is such compensation a capital receipt or revenue receipt in the hands of landlord as per income tax act.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
26 February 2018 The receipt is against destruction of a capital asset, hence must be considered
as 'capital receipt'.
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Kushal Dugar

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Kushal Dugar (Querist)
12 March 2018 Thanks sir. I too felt that should be capital receipt.
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