Home Highlights September 2014 Year 2014 This

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1. Taxability of claim for damages - enhanced compensation - No amount has been received till date by the Assessee pertaining to the damages as claimed by the assessee -...

2. Characterization of receipt - interest received by the assessee u/s 28 and 34 of the Land Acquisition Act, 1894 - The Delhi High Court, in a case concerning the...

3. Money received by the assessee by way of enhanced compensation/interest - the decision in CIT v. Hindustan Housing and Land Development Trust Limited (1986 (7) TMI 10 -...

4. Eligibility of relief u/s 89 r.w. Rule 21A of I.T. Rules - Amount to be spread over the years including future years - compensation received by the assessee as only...

5. Interest on enhanced compensation is liable to be taxed under S. 56 even when compensation is treated as agricultural income and is not covered by Section 45

6. Taxability of a sum received as interest on enhanced compensation - Exemption u/s. 10(37) - Thus interest received under Section 28 of the LA Act by the assessee is part...

7. Capital gain u/s 45 - compensation received by a partner from another partner for relinquishing rights in the partnership firm - the compensation received by the...

8. Enhanced Compensation – Interest on enhanced compensation - Waiver of Interest - assessee was entitled for waiver of interest till the date of receipt of enhanced...

9. Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the...

10. Taxability u/s 45(5)(b) – Transfer of capital asset - the compensation awarded in the first instance would continue to be chargeable as income under the head “capital...

11. Taxability of sum received as interest on enhanced compensation - interest awarded u/s. 28 of the Land Acquisition Act, 1894 - enhanced compensation received on...

12. Additions as interest income - compensation received by the assessee - As the business of assessee was set up and had started and there was huge investment made by...

13. Receipt of interest on enhanced compensation - Income from other sources - the interest received by the assessee u/s 28 of the Land Acquisition Act, 1984 on enhanced...

14. Addition made for interest received on enhanced compensation on account of compulsorily acquisition of Agriculture land - CIT(A) was not correct in upholding the...

15. Re-assessment - Time limitation for notices issued - period of limitation enhanced from 5 years to 6 years - Prospective or retrospective amendment - 5 year period...