Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
Interest received under s.28 of the Land Acquisition Act on enhanced compensation for compulsory acquisition of agricultural land was held taxable as "income from other sources" under s.56(2)(viii) read with s.145B(1), as the statutory language is clear and mandates such tax treatment; consequentially, deduction under s.57(iv) applies while recomputing such interest. The claim of exemption under s.10(37) was rejected because that provision covers only "compensation" for compulsory acquisition and does not extend to "interest on compensation/enhanced compensation." The appellate direction to recompute interest under s.56(2)(viii) with s.57(iv) deduction was upheld and the assessee's grounds were dismissed - ITAT
Interest received under s.28 of the Land Acquisition Act on enhanced compensation for compulsory acquisition of agricultural land was held taxable as "income from other sources" under s.56(2)(viii) read with s.145B(1), as the statutory language is clear and mandates such tax treatment; consequentially, deduction under s.57(iv) applies while recomputing such interest. The claim of exemption under s.10(37) was rejected because that provision covers only "compensation" for compulsory acquisition and does not extend to "interest on compensation/enhanced compensation." The appellate direction to recompute interest under s.56(2)(viii) with s.57(iv) deduction was upheld and the assessee's grounds were dismissed - ITAT
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