https://www.taxtmi.com/caselaws?id=766656 ITAT Delhi upheld PCIT's revision u/s 263 regarding interest on enhanced compensation. The tribunal held that AO's view treating interest on enhanced compensation as exempt u/s 10(37) was not plausible. Following Delhi HC precedent in Inderjit Singh Sodhi case, which considered amendment to s.56(2)(viii) effective 01/10/2010, the tribunal ruled that interest on enhanced compensation must be classified as income from other sources and is taxable. PCIT correctly set aside the assessment order directing fresh assessment. Appeal decided against assessee. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sat, 01 Mar 2025 08:25:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766656 ITAT Delhi upheld PCIT's revision u/s 263 regarding interest on enhanced compensation. The tribunal held that AO's view treating interest on enhanced compensation as exempt u/s 10(37) was not plausible. Following Delhi HC precedent in Inderjit Singh Sodhi case, which considered amendment to s.56(2)(viii) effective 01/10/2010, the tribunal ruled that interest on enhanced compensation must be classified as income from other sources and is taxable. PCIT correctly set aside the assessment order directing fresh assessment. Appeal decided against assessee. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766656