https://www.taxtmi.com/caselaws?id=287182 The Tribunal dismissed the Revenue's appeal and upheld the Ld.CIT(A)'s order on all grounds. The judgment clarified the tax implications of the compensation and interest received by the assessee and his son, directing the compensation to be split equally between them based on the Civil Court's order. The Tribunal affirmed the Ld.CIT(A)'s decision on the applicability of Section 60 of the Income Tax Act 1961 and the taxability of the interest component of enhanced compensation, following relevant Supreme Court precedents. en-us Fri, 29 Jan 2016 00:00:00 +0530 Fri, 03 Apr 2020 10:52:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287182 The Tribunal dismissed the Revenue's appeal and upheld the Ld.CIT(A)'s order on all grounds. The judgment clarified the tax implications of the compensation and interest received by the assessee and his son, directing the compensation to be split equally between them based on the Civil Court's order. The Tribunal affirmed the Ld.CIT(A)'s decision on the applicability of Section 60 of the Income Tax Act 1961 and the taxability of the interest component of enhanced compensation, following relevant Supreme Court precedents. Case-Laws Income Tax Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287182