Monday, November 19, 2018

Sum received by Sushmita Sen towards damages for being sexually harassed not taxable

IT : Compensation received by assessee, a film actress from Coca Cola India Limited (CCIL) towards damages caused to assessee's reputation, not income liable to tax. Assessee had received a total amount of Rs. 145 lacs in lieu of settlement for breach of terms of celebrity engagement contract. However, only an amount of Rs. 50 lakhs was due to assessee under the Contractual terms, thus, additional amount of Rs. 95 lakhs did not arise out of exercise of profession. The balance amount of Rs.95 lac

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