2009 (11) TMI 80

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....2008 arising in ITA No. 2964/Del/2002. 2. The Special Bench of the Tribunal in ITA No. 2964/Del/2002 in the case of Padam Prakash had held that enhanced compensation received by the assessee from the acquisition authorities in respect of its land was to be assessed on receipt basis. The Tribunal also passed some directions relating to interest payable on compensation/enhanced compensation. Subs....

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.... Bench decision dt. 29th Sept., 2006, the Bench failed to record any finding on the decision of Hon'ble Karnataka High Court in the case of Chief CIT & Anr. vs. Smt. Shantavva (2004) 188 CTR (Kar) 162 : (2004) 267 ITR 67 (Kar) and on the case of CWT vs. T. Girijammal (2006) 284 ITR 482 (Mad) cited before the Special Bench for consideration and application. Therefore, there is a mistake in the deci....

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.... date of hearing on 26th Sept., 2008         sd/-               sd/-              sd/-   (P.M. Jagtap)      (I.P. Bansal)     (Vimal Gandhi) Accountant Member   ....

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....ties that Hon'ble Supreme Court has now decided the issue in the case of CIT vs. Ghanshyam (HUF) in Civil Appeal No. 4401 of 2009 vide decision dt. 16th July, 2009 [reported at (2009) 224 CTR (SC) 522 : (2009) 26 DTR (SC) 129-Ed.] finally and, therefore, the decision of Hon'ble Punjab & Haryana High Court is no more a good law. The Revenue should suitably modify the miscellaneous application havin....