Amendments - CA Final - MAY 2012 - Direct Taxes

Friends

You can now downoads the Direct Taxes Amendments for CA FINAL MAY 2012 term. It contians a detailed note on each and every amendment in a precise manner. The link is given below:

http://www.caclubindia.com/share_files/amendments-ca-final-may-2012-direct-taxes--45501.asp

In case of any difficulty in downloading, plesae feel free to mail me bikashbogi@gmail.com.

Developement Agreement : Compensataion - Capital Receipt

Where a Housing society & developers entered into adevelopement agreement whereunder old building was demolished and new multi story building was built, compensation paid to assessee member in addition to allotment of flat and displacement compensation was a capital Receipt.
MUMBAI ITAT.