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Is compensation received on dismentalling of building

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(Querist)
25 September 2019 Sir,

our company received a compensation on account of dismentalling of building from National High Way authority of India amounting to Rs 2978278/-.Kindly guide me is that received amount is taxable under income tax act 1961.

Rajinder Singh
Paonta Sahib Mob 9625762830
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
25 September 2019 Not taxable as no transfer of property involved and payment is only a compensation for loss of property.

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