Tariff classification of Digital Axle Counters affirmed as electro-mechanical railway signalling equipment, eliminating duty, confiscation and penalty...
The Delhi HC in PCIT vs. Inderjit Singh Sodhi HUF held that interest, whether on compensation or enhanced compensation received on acquisition of land u/ss 28 or 34 of the Land Acquisition Act, 1894, shall be taxable as 'Income from Other Sources' u/s 56(2)(viii), distinguishing the SC's decision in CIT vs. Ghanshyam HUF and concurring with the P&H HC's ruling in Mahender Pal Narang vs. CBDT on the amended provisions of Section 56(2).
The Delhi HC in PCIT vs. Inderjit Singh Sodhi HUF held that interest, whether on compensation or enhanced compensation received on acquisition of land u/ss 28 or 34 of the Land Acquisition Act, 1894, shall be taxable as 'Income from Other Sources' u/s 56(2)(viii), distinguishing the SC's decision in CIT vs. Ghanshyam HUF and concurring with the P&H HC's ruling in Mahender Pal Narang vs. CBDT on the amended provisions of Section 56(2).
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