TMI Blog2019 (5) TMI 1241X X X X Extracts X X X X X X X X Extracts X X X X ..... method of computation of the income came to be settled in the case of Commissioner of Income Tax Vs. Ghanshyam [ 2009 (7) TMI 12 - SUPREME COURT ] , wherein the Hon ble Apex Court was pleased to lay down the law that the computation of income sought to be made on receipt basis It is not in dispute that under the amended provision of sub-section 37 of section 10 of the Income Tax A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 145A came to be substituted with effect from 01.04.2010. Substantial question of law is answered in the affirmative. Appeal is allowed in part. The order under challenge is set aside. The appeal is remitted back to the competent authority for re-assessment in accordance with law and more particularly with reference to Sections 10(37) and 145A - I.T.A.NO.100041/2016 - - - Dated:- 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s now being advanced, by placing a reliance on Sections 145A and 10(37) of the Income Tax Act is not the case that was canvassed before the authorities below and that the new case now being canvassed by the appellant requires to be examined by the Assessing Officer, which is not in dispute that is for the Assessment Year 2004-05. The income by way of interest and the compensation amount were decla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Central Government or the Reserve Bank of India and where such income has arisen from the compensation or consideration for such transfer received by such assessee on or after received, such income would not form part of the total income. 5. Learned counsel for the revenue would vehemently contend that the point now raised by the learned Senior Counsel is not a case that has been canva ..... X X X X Extracts X X X X X X X X Extracts X X X X
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