Issue on Income calculation made u/s 44-AE of the Income Tax Act for Awarding compensation : Orissa HC Directs Re calculation [Read Order]

The court held that the amount of compensation is to be accordingly recalculated.
Income calculation - us 44-AE - Income Tax Act - Orissa HC - Re calculation - TAXSCAN

The High Court of Orissa directed the recalculation on the issue of Income calculation made under Section 44-AE of the Income Tax Act, 1961  for Awarding compensation. The court held that the amount of compensation is to be accordingly recalculated. The annual income of the deceased is to be reassessed at Rs.1,76,496/- taking into account…

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