https://www.taxtmi.com/caselaws?id=399907 In a limited scrutiny assessment, enquiry into interest income from enhanced compensation was treated as within the permitted scope because the return was selected for low other-income concerns and the receipt was already examined. Interest under section 28 of the Land Acquisition Act on enhanced compensation for agricultural land was treated as part of enhanced compensation and assessable under the capital gains framework on receipt, so the addition was deleted. The cash-borrowing addition required further verification because the bank evidence needed to test genuineness and repayment had not been fully examined, and the matter was remanded to the Assessing Officer. en-us Tue, 20 Oct 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399907 In a limited scrutiny assessment, enquiry into interest income from enhanced compensation was treated as within the permitted scope because the return was selected for low other-income concerns and the receipt was already examined. Interest under section 28 of the Land Acquisition Act on enhanced compensation for agricultural land was treated as part of enhanced compensation and assessable under the capital gains framework on receipt, so the addition was deleted. The cash-borrowing addition required further verification because the bank evidence needed to test genuineness and repayment had not been fully examined, and the matter was remanded to the Assessing Officer. Case-Laws Income Tax Tue, 20 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399907