Randhir Singh vs. ITO
Parties Involved
Facts Summary
During assessment proceedings, it was noted by the Assessing Officer that the assessee received interest on enhanced compensation of Rs.68.64 Lacs from District Revenue Officer under section 28 of the Land Acquisition Act. Due to this, TDS was deducted under section 194A on the same. The Assessing Officer brought the same to tax under section 56(2)(viii) of the Act. The Commissioner of Income Tax (Appeals) dismissed the appeal for want of condonation of delay of 01 (one) day. Aggrieved, the assessee is in further appeal before the Income Tax Appellate Tribunal.…
Decision in favour of
Partly Assessee
Legal Issues
- 1. Whether the interest on enhanced compensation received by the assessee should be taxed under section 56(2)(viii) of the Act?
Judgment Outcome
Decided in favour of Partly Assessee.
Precedents Relied Upon
2 precedents cited in this judgement.
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