https://www.taxtmi.com/caselaws?id=306575 The tribunal upheld the Revisional Authority's decision to revise the AO's order under Section 263, confirming that interest received on enhanced compensation is taxable as income from other sources. The AO's lack of enquiry and failure to follow binding jurisdictional High Court judgments were key reasons for deeming the assessment order erroneous and prejudicial to the interest of the Revenue. The appeals by the assessee were dismissed. en-us Mon, 07 Feb 2022 00:00:00 +0530 Thu, 09 Feb 2023 21:17:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306575 The tribunal upheld the Revisional Authority's decision to revise the AO's order under Section 263, confirming that interest received on enhanced compensation is taxable as income from other sources. The AO's lack of enquiry and failure to follow binding jurisdictional High Court judgments were key reasons for deeming the assessment order erroneous and prejudicial to the interest of the Revenue. The appeals by the assessee were dismissed. Case-Laws Income Tax Mon, 07 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306575