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2023 (12) TMI 705 - AT - Income TaxAddition u/s 56 - taxing the Interest amount granted by the Land Acquisition Officer u/s 28 of the Land Acquisition Act as Income from other sources - case was selected for scrutiny for the reason that gross receipt shown in schedule 0S of ITR is less than the receipts reported in 26AS u/s 193 and large agricultural income - HELD THAT:- In the present case, the applicability of the Hon’ble Apex Court in case of Ghanshyam HUF [2009 (7) TMI 12 - SUPREME COURT] will not be applicable as the interest u/s . 28 is not on delayed payment but was enhanced compensation. But in present assessee’s case, the interest has been granted by the Hon’ble Principal Senior Civil Judge while awarding additional compensation to the assessee. Therefore, the decision of Hon’ble Apex Court which is a three judge bench decision in case of Bikram Singh [1996 (9) TMI 6 - SUPREME COURT] will be applicable wherein it is clearly held that the interest was not intended to exclude the revenue receipt on interest on delayed payment of compensation from taxability. Hence, the appeal of the assessee is dismissed.
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