https://www.taxtmi.com/caselaws?id=179533 The Tribunal dismissed the appeals concerning the notice under section 148 and assessment under section 147, supporting the Assessing Officer's jurisdiction. It ruled that interest on enhanced compensation is taxable, as it had reached finality. The enhanced compensation itself was deemed taxable in the year of receipt, despite pending appeals. However, the Tribunal allowed the exemption under section 54B/54H, directing the Assessing Officer to verify investments in agricultural land, even when purchased in relatives' names, leading to partial allowance of the appeals. en-us Fri, 23 Feb 2007 00:00:00 +0530 Mon, 19 Feb 2024 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179533 The Tribunal dismissed the appeals concerning the notice under section 148 and assessment under section 147, supporting the Assessing Officer's jurisdiction. It ruled that interest on enhanced compensation is taxable, as it had reached finality. The enhanced compensation itself was deemed taxable in the year of receipt, despite pending appeals. However, the Tribunal allowed the exemption under section 54B/54H, directing the Assessing Officer to verify investments in agricultural land, even when purchased in relatives' names, leading to partial allowance of the appeals. Case-Laws Income Tax Fri, 23 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179533