TMI Blog2020 (3) TMI 1327X X X X Extracts X X X X X X X X Extracts X X X X ..... issue has been decided by the Hon ble Apex Court in case of Union of India Vs. Hari Singh [ 2017 (11) TMI 923 - SUPREME COURT ] wherein it is held that on agricultural Land no tax is payable when the compensation/enhanced compensation is received by the assessee as their land were agricultural land. The compensation was received in respect of agricultural land belonging to the assessee which had been acquired by the state government. The CIT(A) has not taken cognizance of the decision of the Apex Court in case of Hari Singh (supra). The ratio of the said decision is applicable in the present case. Thus, the appeal of the assessee is allowed. - ITA No. 5207/DEL/2017 - - - Dated:- 5-3-2020 - Ms Suchitra Kamble, Judicial Member And Shri P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s see is nothing but a capital receipt. In view of above the reopening of the assessment u/s 147 is against law. Hence, the assessment proceedings initiating ultra vires and be quashed. 3. No order has been passed on objection raised for reopening of assessment u/s 147, hence, the assessment proceedings are Vires and be quashed. 4. Notice issued is against law and facts of the case, hence, be quashed. 5. It has been held by Hon ble Supreme Court in case of CIT v/s Ghanshyyam Dass HUF that interest awarded u/s 28 Land Acquisition Act, 1894 is a Capital Receipt. Hon ble Apex Court in case of CIT v/s Ghanshyam HUF (2009) 315 TR 1 has held that interest awarded u/s 28 of Land Acquisition Act, 1894 is nothing but an accretion ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see. 5. The Ld. AR submitted that Hon ble Supreme Court in case of CIT vs. Ghansyam HUF (supra) held that interest awarded u/s 28 of the Land Acquisition Act is capital receipt and is nothing but an accretion to the value of compensation. Thus, it is part and parcel of the compensation, hence is not taxable. The Ld. AR further submitted that no order has been passed on objection raised for re-opening of assessment u/s 147 of the Act. The Ld. AR also relied upon the decision in case of Union of India Vs. Hari Singh (Civil Appeal No. 15041/2017 order dated 15th September 2017). Thus, the Ld. AR submitted that the additions made by the Assessing Officer is not valid and are not sustainable. 6. The Ld. DR relied upon the assessment order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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