https://www.taxtmi.com/caselaws?id=332925 The Tribunal upheld the validity of reassessment proceedings initiated by the Assessing Officer but ruled that the entire interest income received on enhanced compensation could not be taxed in the year of receipt. The interest income should be spread over relevant years, and the revised returns disclosing the income should be considered. Additionally, the Tribunal disallowed the credit for Tax Deducted at Source (TDS) on the interest income for the year under consideration. The appeal was disposed of in favor of the assessee. en-us Thu, 18 Aug 2016 00:00:00 +0530 Thu, 29 Sep 2016 08:55:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332925 The Tribunal upheld the validity of reassessment proceedings initiated by the Assessing Officer but ruled that the entire interest income received on enhanced compensation could not be taxed in the year of receipt. The interest income should be spread over relevant years, and the revised returns disclosing the income should be considered. Additionally, the Tribunal disallowed the credit for Tax Deducted at Source (TDS) on the interest income for the year under consideration. The appeal was disposed of in favor of the assessee. Case-Laws Income Tax Thu, 18 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332925