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2014 (6) TMI 43 - HC - Income TaxCompensation for late handing over of possession of property – Capital receipt or not – Held that:- Tribunal was of the view that there is no finding by the AO that possession of the property was handed over to the assessee - It was a compensation for delay in completion of the construction – AO should have verified that who is the tenant over the property but no such steps were taken by the AO – Relying upon DDA Vs ITO [1995 (1) TMI 126 - ITAT DELHI] - though the nomenclature is interest but it is not the interest as such, it is a compensation on account of delay in the construction of the developed units and the term 'interest' used only as a measuring of quantification - The Tribunal took note of its previous decisions - the tax effect is less than the prescribed amount of Rs. 10 lakhs - the decision of the Tribunal need not to be interfered – Decided against Revenue.
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