https://www.taxtmi.com/caselaws?id=773195 ITAT Mumbai ruled in favor of a non-resident OCI assessee regarding taxability of enhanced land acquisition compensation. The tribunal held that additional compensation received under interim HC order with pending appeal cannot be taxed until final adjudication, as the assessee lacks absolute right to receive amount pending outcome. Relying on T.V. Patel and E.D. Sassoon precedents, ITAT determined compensation taxable only when HC passes final order on state's appeal. Addition under sections 45(5)(b) and 56(2)(viii) deleted for current year, with penalty under section 271(1)(c) also removed due to deletion of primary addition. en-us Mon, 19 May 2025 00:00:00 +0530 Thu, 19 Jun 2025 08:29:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773195 ITAT Mumbai ruled in favor of a non-resident OCI assessee regarding taxability of enhanced land acquisition compensation. The tribunal held that additional compensation received under interim HC order with pending appeal cannot be taxed until final adjudication, as the assessee lacks absolute right to receive amount pending outcome. Relying on T.V. Patel and E.D. Sassoon precedents, ITAT determined compensation taxable only when HC passes final order on state's appeal. Addition under sections 45(5)(b) and 56(2)(viii) deleted for current year, with penalty under section 271(1)(c) also removed due to deletion of primary addition. Case-Laws Income Tax Mon, 19 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773195