TMI Blog2015 (12) TMI 111X X X X Extracts X X X X X X X X Extracts X X X X ..... amendments were made to Sections 56 and 145A of the 1961 Act w.e.f 1.4.2010 thereby including income by way of interest received on compensation or on enhanced compensation to be income of the year in which it was received. In view of the said amendments, the interest component on the amount of compensation or enhanced compensation being revenue receipt was exigible to tax in the year of receipt irrespective of the method of accounting employed. Similarly, in Bir Singh's case (2010 (10) TMI 581 - PUNJAB & HARYANA HIGH COURT ), it was held that the interest awarded by court on enhanced compensation was interest under section 28 of the Act and chargeable to tax in the year of receipt. Also decided in Prem Singh's case [2010 (12) TMI 460 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Wazirabad, Tehsil and District Gurgaon. It was acquired by the State of Haryana for a public purpose i.e. for residential, commercial and institution of Sector 57, Gurgaon vide notification dated 24.8.2000 under Section 4 of the Land Acquisition Act, 1894 (in short, the Act ) followed by notification under section 6 of the Act on 21.7.2013. Award was passed on 21.7.2014. Thereafter, the petitioners filed reference petition under Section 28A(3) of the Act. The petitioners had not filed any petition under Section 18 of the Act. However, other land owners filed reference petitions. The reference petition was disposed of in terms of judgment in LA Case No.86 dated 7.5.2005 decided on 23.8.2011 by the Additional Sessions Judge Gurgaon. The pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceipt and exigible to tax in the year of receipt in view of the amendment to sub section (2) of Section 56, clause (b) of Section 145A and Section 57(iv) by the Finance (No.2) Act 2009 w.e.f 1.4.2010 applicable to the assessment year 2013-14 and in view of the law laid down by this Court in CIT, Faridabad vs. Bir Singh, ITA No.209 of 2004 and CIT, Panchkula vs. Prem Singh decided on 16.12.2010. Thus, in view of the law laid down by the Apex court in Ghanshyam's case (supra), the interest under Section 28 of the Act is exigible to tax in the year of receipt. With regard to the refund on the basis of circular dated 13.4.2011 is concerned, the said circular relates to compensation only and exemption under Section 10(37) of the Income Tax A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or enhanced compensation, as the case may be, shall be deemed to be the income of the year in which it is received. In view of the aforesaid amendments, the interest component on the amount of compensation or enhanced compensation being revenue receipt was exigible to tax in the year of receipt. On these premises, prayer for dismissal of the petition has been made. 4. After hearing learned counsel for the parties, we find merit in the stand taken by the respondent authorities. Admittedly, interest had been awarded to the petitioners on the enhanced compensation on account of acquisition of their land on which TDS was deducted by the respondent authorities. According to the petitioners, the action of the respondents in charging TDS is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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