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2010 (12) TMI 361 - HC - Income TaxEnhanced compensation - The Apex Court in Commissioner of Income-tax v. Ghanshyam (HUF), [2009 -TMI - 34152 - SUPREME COURT] had held that the amount of enhanced compensation received by the assessee would be taxable in the year of receipt in view of insertion of Section 45(5)(b) of the Act irrespective of the pendency of any litigation at the behest of the State in any court of law - Decided in favour of the revenue and against the assessee. Deduction u/s 54B & 54F - The Tribunal has not decided the issue relating to deduction u/s 54B and 54F of the Act, the matter is remanded to the Tribunal for decision in this regard in accordance with law.
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