2017 (2) TMI 510

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....h Mr. Alok Mittal, Advocate for the respondent ORDER S. J. Vazifdar, A.C.J. ( Oral ) This is an appeal against the order of the Income Tax Appellate Tribunal pertaining to the assessment year 2003-2004 confirming the order passed by the CIT (Appeals). 2. The appeal is admitted on the following substantial question of law:- "Whether on the facts and in the circumstances of the ....

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....others. The Supreme Court delivered the judgement in the case of CIT Vs Ghanshyam (HUF), [2009] 315 ITR 1. 4. Mr. Bhan, learned senior counsel appearing on behalf of the respondent-assessee contends that interest on the enhanced compensation under Section 28 also forms part of the compensation within the meaning of that term in Section 45(5) of the Income Tax Act, 1961 (for short the 1961 Act).....

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....of compensation is liable to be taxed under Section 56 of the Act. 10. Even though there is little confusion in reference to the relevant sections but the discussion clearly shows that interest directed by the Collector is to be treated as part of compensation under Section 34 while the interest on enhanced compensation ordered by the Court is not under Section 28 of the Land Acquisition ....

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....vered by Section 45(5)(c). Section 45(5)(c) of the 1961 Act does not apply to the case before us for it was introduced by an amendment w.e.f. 01.04.2004. However, the judgement squarely applies even in respect of cases under Section 45(5)(b) as well for it is expressly observed that interest on enhanced compensation is not treated as compensation. 6. Mr. Bhan contended that the interpretation o....