https://www.taxtmi.com/caselaws?id=116633 The Tribunal ruled that the enhanced compensation received on land acquisition is taxable in the year of receipt as capital gains, aligning with legislative amendments. Deductions under sections 54B and 54F were allowed if conditions were met. The Tribunal upheld the credit of TDS, accepted the individual status of the assessees, and mandated interest on compensation to be taxed annually. The CIT(A) was found to lack jurisdiction in directing a fresh decision by the Assessing Officer. The Revenue's appeals were partly allowed, affirming taxability, deductions, TDS credit, individual status, interest taxation, and quashing the CIT(A)'s directive. en-us Fri, 18 Jun 2004 00:00:00 +0530 Thu, 14 Jun 2012 13:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116633 The Tribunal ruled that the enhanced compensation received on land acquisition is taxable in the year of receipt as capital gains, aligning with legislative amendments. Deductions under sections 54B and 54F were allowed if conditions were met. The Tribunal upheld the credit of TDS, accepted the individual status of the assessees, and mandated interest on compensation to be taxed annually. The CIT(A) was found to lack jurisdiction in directing a fresh decision by the Assessing Officer. The Revenue's appeals were partly allowed, affirming taxability, deductions, TDS credit, individual status, interest taxation, and quashing the CIT(A)'s directive. Case-Laws Income Tax Fri, 18 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116633