2017 (9) TMI 1532

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....09 (IV-B)] CIVIL APPEAL NO.13056/2017 [@ SLP(C) No.759/2009 (IV-B)] CIVIL APPEAL NO.13057/2017 [@ SLP(C) No.756/2009 (IV-B)] CIVIL APPEAL NO.13058/2017 [@ SLP(C) No.753/2009 (IV-B)] CIVIL APPEAL NO.13059/2017 [@ SLP(C) No.754/2009 (IV-B)] CIVIL APPEAL NO.13060/2017 [@ SLP(C) No.757/2009 (IV-B)] CIVIL APPEAL NO.13061/2017 [@ SLP(C) No.755/2009 (IV-B)] R. K. Agrawal And Dr. D. Y. Chandrachud, JJ.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....12 wherein the provisions of Section 45(5) of the Income Tax Act, 1961 were considered and this Court in paragraphs 53 to 56 has held that in view of the Amendment in the Income Tax Act, the person who has received enhanced compensation and interest thereon even by an interim order passed by the Court would be assessed to tax for that enhanced compensation. Paragraphs 53 to 56 of the above judg....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... not only deals with reworking as urged on behalf of the asseess but also with the change in the full value of the consideration (computation) and since the enhanced compensation/consideration (including interest under Section 28 of the 1894 Act) becomes payable/paid under the 1894 Act at different stages, the receipt of such enhanced compensation/consideration is to be taxed in the year of receip....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to receive payment under the 1894 Act is not in doubt. 55. It is important to note that compensation, including enhanced compensation/consideration under the 1894 Act, is based on the full value of property as on the date of notification under Section 4 of that Act. When the court/tribunal directs payment of enhanced compensation under Section 23(I-A), or Section 23(2) or under Section 28 of t....