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2024 (4) TMI 646 - AT - Income TaxRevision u/s 263 - "lack of enquiry” or “lack of investigation” - correct appreciation of conclusion that “interest on enhanced compensation during the assessment year under consideration ought to be treated as income from other sources u/s. 56(2)(viii) of the Act” - HELD THAT:- We find plausible reasons in the contention of the Ld. AR that that the issue under consideration is no longer res integra, in as much as that identical issue arises into the case of other individuals namely Gulshan Kumar S/o Mohari Ram [2024 (2) TMI 748 - ITAT DELHI] wherein exactly similar and identical order has been has decided the issue in favour of assessee as held since the order of the Ld. AO is based on the decision of the Hon’ble Supreme Court in Ghanshyam HUF [2009 (7) TMI 12 - SUPREME COURT] on the issue of taxability of interest received by the assessee under section 28 of Land Acquisition Act. it can at best be said to be a debatable issue on which two views are possible and the Ld. AO accepts one of the views. In this view of the matter too, the Ld. PCIT cannot assume revisional jurisdiction held by the Hon’ble Delhi High Court in CIT Vs. Hindustan Coca Cola Beveraces P Ltd. [2011 (1) TMI 138 - DELHI HIGH COURT] Revenue has not pointed any change into facts and circumstances of the present case. We therefore, respectfully following binding precedent (Supra), hereby allow the appeal of the assessee by quashing the impugned order of the Ld. PCIT - Assessee appeal allowed.
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