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Bought land from landlord's son. Due to reason money returned. Tax?
26-Sep-2023 (In Tax Law)
I am a tenant who entered into an agreement with the Landlord's son to buy my portion. Subsequently , another tenant turned up with a will of the landlord's father claiming title to the entire property. A lawsuit followed. I lost the suit and has decided to relinquish my tenancy right in this persons' favor. He has agreed to return the money that I paid to the landlord's son along with some extra consideration. I am a tenant from almost 1970s. What shall be the taxation treatment of this amount?
Look forward to hearing from you.
Sincerely yours,
Saurabh
19+
Adv. Saurabh Kumar
Delhi | 25+ Answers
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Adv. Abhimanyu Jhamba
Delhi | 25+ Answers
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