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2017 (11) TMI 1222 - RAJASTHAN HIGH COURTAssessment of income - nature of amount of interest towards late payment - work could not be completed by the stipulated period and hence a dispute arose between the assessee and the Irrigation Department - as contended that the actual income as assessed by the AO is required to be taken into consideration for the current year - Held that:- However taking into account that the carry forward loss was not there and in view of the decision of the Supreme Court in Ghayshyam (2009 (7) TMI 12 - SUPREME COURT ) as reproduced herein above, we are of the view that the interest actually received was income. We restore the order of the AO and the order of CIT(A) and order of the tribunal is quashed and set aside. - Decided against the assessee.
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