Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
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Compensation awarded under an arbitral award made under Section 3G(5) of the National Highways Act, 1956 was stated to be exempt from TDS in view of Section 96 of the 2013 Land Acquisition Act, which the Court treated as applicable to post-enactment compensation, including acquisitions under the National Highways Act. It further noted that Section 194LA of the Income-tax Act did not require deduction for agricultural land and that the later proviso and CBDT circular only clarified the statutory exemption. Once the compensation was crystallised into a judgment debt, it had to be paid in full without deduction, and any amount already deducted was to be redeposited for disbursement to the claimants.
Compensation awarded under an arbitral award made under Section 3G(5) of the National Highways Act, 1956 was stated to be exempt from TDS in view of Section 96 of the 2013 Land Acquisition Act, which the Court treated as applicable to post-enactment compensation, including acquisitions under the National Highways Act. It further noted that Section 194LA of the Income-tax Act did not require deduction for agricultural land and that the later proviso and CBDT circular only clarified the statutory exemption. Once the compensation was crystallised into a judgment debt, it had to be paid in full without deduction, and any amount already deducted was to be redeposited for disbursement to the claimants.
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