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2023 (6) TMI 818 - ITAT DELHIIncome from other sources - Additional compensation of land received by the assessee from HUDA - CIT(A) deleted addition - HELD THAT:- CIT(A) concluded that the enhanced compensation received by the assessee company from HUDA was also transferred to OILP in accordance with the collaboration agreement. CIT(A) before granting relief to the assessee also noted that the enhanced compensation received by the appellant has been duly offered to tax as income by OIPL under the head income from operation for F.Y. 2014-15 relevant to A.Y. 2015-16. We concur with the findings arrived by the Ld. CIT(A) that since the entire land rights were transferred by the appellant to OIPL and the enhanced compensation including interest thereon was offered to tax by OIPL after claiming deduction of 50% of interest u/s. 57 of the Act and the same income cannot be taxed in the hands of assessee. Decided against revenue.
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