Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (10) TMI 921 - AT - Income TaxAssessibility of the amount received u/s 28 of the Land Acquisition Act - assessee pointed out that land of the assessee was acquired against which it received compensation u/s 28 of the Act, which was part of additional compensation received and not taxable - HELD THAT:- As decided in SHRI AMAR CHAND GUPTA, [2019 (8) TMI 1424 - ITAT DELHI] assessees had received interest u/s 28 of Land Acquisition Act on enhanced compensation. The Hon’ble Supreme Court in the case of CIT vs Ghansham (HUF) [2009 (7) TMI 12 - SUPREME COURT] has clearly held that interest received by the assessee in view of section 28 of Land Acquisition Act 1894 is part of the compensation and therefore was not taxable. The Hon’ble Delhi Bench of the Tribunal in the case of Shri Opinder Singh Virk, [2019 (5) TMI 676 - ITAT DELHI] has dealt with the decision of the Hon’ble Supreme Court in the case of Chet Ram (HUF) [ 2017 (9) TMI 1532 - Supreme Court]as well as the case laws of Ghanshyamdas and after analysing the same has again held that interest receipt on enhanced compensation u/s 28 of the Land Acquisition Act is in the nature of compensation. - Decided in favour of assessee
|