Compensation or damages for fraud taxable as income from other sources

AUTHORITY FOR ADVANCE RULINGS (INCOME TAX), NEW DELHI IC, In re JUSTICE P.K. BALASUBRAMANYAN, CHAIRMAN A.A.R. NOs. 1045, 1060, 1078, 1087 & 1088 OF 2011 AUGUST 27, 2012 RULING 1. AAR No. 1045 of 2011 is filed under section 245Q of the Income-tax Act by an Indian company, for convenience referred to hereafter as IC, seeking advance rulings on the questions formulated in that application arising out of a class action filed in the United States of America represented by the applicant in AAR No. 1060 of 2011 referred to as Lead counsel hereafter, IC, the payer and Lead counsel...