Article 227 review permits intervention in arbitration only for manifest, patent inherent jurisdictional defects, not representational authority dispu...
Compulsory-acquisition compensation under the National Highways Act that remained unpaid on 31 December 2014 and was received in FY 2015-16 qualified for exemption under section 96 of the RFCTLARR Act. The exemption applied notwithstanding the absence of a specific corresponding exemption in the Income-tax Act, resulting in deletion of the long-term capital-gains addition. Interest received for delayed payment of that compensation was separately taxable as income from other sources under binding jurisdictional High Court precedent. The capital-gains addition was deleted, while the addition for delayed-payment interest was sustained.
Compulsory-acquisition compensation under the National Highways Act that remained unpaid on 31 December 2014 and was received in FY 2015-16 qualified for exemption under section 96 of the RFCTLARR Act. The exemption applied notwithstanding the absence of a specific corresponding exemption in the Income-tax Act, resulting in deletion of the long-term capital-gains addition. Interest received for delayed payment of that compensation was separately taxable as income from other sources under binding jurisdictional High Court precedent. The capital-gains addition was deleted, while the addition for delayed-payment interest was sustained.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
