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2019 (1) TMI 1544 - AT - Income TaxRevision u/s 263 - Taxability of interest received u/s 28 of the Land Acquisition Act - CIT held that the assessment order passed by the AO u/s 143(3) of the Act, having failed to add 50% of the interest income as per the provisions of Section 56(2)(viii), 57(iv) and 145A(b) of the Act under the head 'income from other sources' ,and having not properly examined the facts of the case and accepted the version of the assessee without due examination of the issue of interest on enhanced compensation, was erroneous - HELD THAT:- In view of the categorical affirmation of the proposition laid down by the apex court in the case of Ghanshyam HUF [2009 (7) TMI 12 - SUPREME COURT] in its latest decision in the case of Hari singh [2017 (11) TMI 923 - SUPREME COURT] we hold that there is no error in the order of the AO treating the interest received by them u/s 28 of the LAA,1894,as compensation following the proposition laid down by the apex court in Ghanshyam HUF(supra).The order passed by the Ld.Pr.CIT u/s 263 is therefore set aside. - Decided in favour of assessee.
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