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2022 (5) TMI 502 - AT - Income TaxIntimation u/s. 143(1) - assessee has apparently claimed exemption u/s. 10(37) towards enhanced compensation along with interest u/s. 28 of the land acquisition Act. - enhanced compensation has been taxed as per the provisions of Section 56(2) and tax liability has been created as per the provisions of Section 57(iv) - HELD THAT:- The question is firstly the requisite facts have to be brought on record in terms of nature of the land being acquired by the government and the quantum of compensation, enhanced compensation and interest and the relevant provisions of land acquisition Act under which such compensation and interest has been granted and thereafter, the relevant provisions as applicable needs to be applied. Further, Wthere are decisions rendered by the Highest Court of the land and which are duly brought to the notice of the ld. CIT(A), the latter cannot merely rely on the relevant provisions of the Act without taking into consideration the legal proposition so laid down in the said decisions regarding the exact nature of compensation and how the same needs to be construed under the relevant statute and the tax statue. The judicial discipline requires that the law laid down by the Highest Court of the land need to be followed irrespective of individual opinion or view point which the ld. CIT(A) may have in a particular matter. At the same time, where there is change in law or any subsequent jurisdictional High Court decision(s) where such decisions rendered by the Hon'ble Supreme Court have been considered and which the ld. CIT(A) ought to rely upon, the ld. CIT(A) has to say so by way of a speaking order rather than maintaining silence on the applicability of the said decisions. Therefore, in light of the aforesaid discussion and in the entirety of facts and circumstances of the case, we deem it appropriate to remand the matter to the file of the ld. CIT(A) to decide the same afresh after bring on record the relevant facts and the decide the same as per law after providing reasonable opportunity to the assessee.
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