2010 (10) TMI 855

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.... Jhingan, Adv., for the Respondent   JUDGEMENT   Adarsh Kumar Goel, J:   1. This appeal has been preferred by the revenue under Section 260-A of the Income Tax Act, 1961 (for short, "the Act") against the order dated 21.9.2004 of the Income Tax Appellate Tribunal, New Delhi in I.T.A. No.3319/D/01 for the assessment year 1997-98 proposing to raise following substantial quest....

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....id income will fall under Section 80 HHC of the Act, as it does not fall under Section 28 (iiia), (iiib) or (iiic) of the Act. Appeal of the revenue against the said order of CIT(A) was dismissed with the following observations:-   "5. The compensation received by the assessee does not fall within any of the category as mentioned in sec.80 HHC(4B) explanation (baa)(1). It is not a payment ....

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....t as required therein. The view taken by the CIT(A) and the Tribunal that the claim will be covered by the said section only on the ground that the income of the assessee was outside Section 28 (iiia), (iiib), (iiic) of the Act, was not borne out by either Section 80 HHC itself or any other principle. Any exemption has to specifically fall within four corners of the provision and burden of showing....