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of <h1>Delhi High Court upholds tax deduction on interest for compensation enhancement, following Supreme Court ruling.</h1> <h3>Shankar And Others Versus Union of India And Others </h3> The High Court of Delhi dismissed the writ petition challenging a circular for tax deduction on interest payment for compensation enhancement, citing a ... In this writ petition the petitioner seeks quashing of a circular issued by the Deputy Commissioner of Income-tax to the Land Acquisition Collector, directing him to deduct tax at source at the time of making payment of interest to the petitioner on account of enhancement of compensation. It is also prayed that the Collector may be restrained from deducting the tax at source in terms of the said circular. According to the petitioner, since the amount of interest payable on account of delay in payment of enhanced compensation is not liable to be taxed, the Land Acquisition Collector cannot be asked to deduct tax at source. - the writ petition is dismissed and the rule is discharged. The High Court of Delhi dismissed the writ petition seeking to quash a circular for tax deduction on interest payment for compensation enhancement. The court cited a Supreme Court ruling that interest on delayed compensation is taxable and denied relief to the petitioner. The petitioner was granted liberty to spread income for tax assessment purposes. (Case citation: 2002 (7) TMI 29 - DELHI High Court, Judges: D. K. JAIN, MS. SHARDA AGGARWAL)
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