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2015 (12) TMI 111 - PUNJAB AND HARYANA HIGH COURT

2015 (12) TMI 111 - PUNJAB AND HARYANA HIGH COURT - TMI - TDS on enhanced compensation - whether the action of the respondents in charging TDS is not legal and valid as per the law laid down in Ghanshyam's case (2009 (7) TMI 12 - SUPREME COURT ) and the circular dated 13.4.2011 issued by the respondents - Held that:- 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 th .....

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n 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 - PUNJAB AND HARYANA HIGH COURT ] the interest com .....

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essee. - CWP No.2276 of 2015 (O&M) - Dated:- 3-11-2015 - MR. AJAY KUMAR MITTAL AND MR. RAMENDRA JAIN, JJ. For The Petitoner : Mr. Suresh Kumar Kaushik, Advocate For The Respondent : Ms. Mamta Singh Talwar, DAG, Haryana with Mr. Saurabh Mago, AAG, Haryana, Mr. Jagdish Manchanda, Advocate, Mr. Yogesh Putney, Advocate Ajay Kumar Mittal,J. 1. The petitioners pray for quashing the certificate of deduction of tax at source, Annexure P.2 being contrary to the law laid down by the Apex Court in Commissi .....

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a 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 pet .....

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nce court, the respondents though calculated the same as ₹ 7,46,591/- but deducted ₹ 45235/- as Tax Deduction at source (TDS) on the amount of enhanced compensation and paid a sum of ₹ 7,01,356/-. According to the petitioners, deduction of tax at source is required to be made in respect of compensation paid for acquisition of immovable property other than agricultural land. The interest was on the excess amount of compensation which was awarded by the reference court and theref .....

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ion of India through Commissioner of Income Tax (TDS) II, Chandigarh wherein it has been inter alia stated that the interest on enhanced compensation being revenue receipt 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 o .....

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ved either under section 28 or 34 of the Act. Section 10(37) of the 1961 Act contemplates exemption on transfer of agricultural land on fulfilling conditions laid down under section 2(14)(iii) of the 1961 Act which applies to income chargeable under the head 'capital gains' and not on interest which is taxable under the head income from other sources under section 56 of the 1961 Act. With regard to the issue of chargeability of interest under sections 28 and 34 of the Act by treating the .....

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of the 1961 Act by Finance (No.2) Act, 2009 w.e.f 1.4.2010 to the following effect:- (viii) income by way of interest received on compensation or on enhanced compensation referred to clause (b) of section 145A. Further amendment was carried out under Section 145A by inserting clause (b) by Finance Act, 2009 w.e.f 1.4.2010 to the following effect:- (b) interest received by an assessee on compensation or enhanced compensation, as the case may be, shall be deemed to be the income of the year in wh .....

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