2019 (9) TMI 1689

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....16 - -<br>Income Tax<br>MS. SUSHMA CHOWLA, JM AND SHRI ANIL CHATURVEDI, AM For the Appellant : Sharad Shah For the Respondent : Shri Sudhendu Das ORDER PER SUSHMA CHOWLA, JM: This bunch of appeals filed by related assessee are against respective orders of CIT(A)-2, Aurangabad, all dated 27.05.2016 relating to assessment year 2013-14 against respective orders passed under section 143....

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....s condoned and we proceed to decide the present appeals after hearing both the learned Authorized Representatives. 4. The learned Authorized Representative for the assessee pointed out that the only issue which needs to be decided in the present set of appeals is against chargeability of interest received under the Land Acquisition Act (in short 'LAC Act'). The learned Authorized Representative....

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...., pointed out that the issue stands covered against the assessee by the decision of the Hon&#39;ble Supreme Court in CIT Vs. Chet Ram (HUF) in Civil Appeal No.13053/2017 & Ors. Judgment dated 12.09.2017 and the amount was taxable in the hands of assessee. 6. The learned Authorized Representative for the assessee in rejoinder pointed out that the Hon'ble Apex Court in CIT Vs. Chet Ram (HUF) (sup....

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....and was an integral part of compensation. It was further held that interest received under section 34 of LAC Act was on account of delayed payment of compensation and was revenue receipt. Though the amounts received under sections 28 and 34 of LAC Act are termed as interest but two stands at different pedestal in so far as the Income Tax Act is concerned. Such is the proposition laid down by Pune ....