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2016 (3) TMI 733 - PUNJAB & HARYANA HIGH COURT

2016 (3) TMI 733 - PUNJAB & HARYANA HIGH COURT - TMI - Taxability of interest awarded on enhanced compensation - amendment through Section 145-A - Held that:- Supreme Court in Commissioner of Income-tax, Faridabad Versus Ghanshyam (HUF) [2009 (7) TMI 12 - SUPREME COURT] held that the interest awarded on enhanced compensation is not taxable. The effect of the judgment has been statutorily abrogated by virtue of the amendment. The award of the Collector itself has been passed subsequent to the ame .....

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n petitioners. JUDGEMENT K. KANNAN, J. 1. The applications for review is sought by the Union of India on the plea that the orders passed by this Court in the absence of any representation of Union, failed to take note of an amendment in the Income Tax Act. The said provision made interest component assessed on additional amount on land acquisition awards under Section 28 of the Land Acquisition Act as taxable. The amendment through Section 145-A (b) took effect from April 2010. I have relied on .....

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