2024 (7) TMI 1488

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....K. Srivastav, Sr. DR ORDER PER KUL BHARAT, JM: This appeal, by the assessee, is directed against the order of the National Faceless Appeal Centre (NFAC), Delhi, pertaining to the assessment year 2019-20. The assessee has raised following grounds of appeal: "1. That having regard to the facts and circumstances of the case and in law, the Ld. Commissioner of Income Tax (Appeals) ha....

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....by the Ld. Assessing Officer under the head "Income from Other Sources" u/s 56 of the Income-tax Act on account of interest u/s 28 of the Land Acquisition Act 1894 of Rs. 2,76,71,650/- received by the appellant during the year, which was part of enhanced compensation for compulsory acquisition of his agricultural land exempt u/s 10(37) of the Income Tax Act 1961. 3. Without prejudice to t....

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....cts, in brief, are that for A.Y. 2019-20 the assessee filed her income-tax return declaring income from house property at Rs. 83,320/-; income from other sources at Rs. 10,15,361; and exempt income on account of acquisition of agricultural land at Rs. 2,76,71,650/-. The case of the assessee was selected for complete scrutiny. Vide order dated 26.09.2021, the AO completed the assessment u/s 143(3) ....

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....urther limitation period of 90 days from 01.03.2022 would be available for filing appeal. He submitted that in the present case the assessment order was passed during corona pandemic on 26.09.2021 and the appeal before the First Appellate Authority was filed on 28.04.2022 and the period is also covered within the extended period. He, therefore, submitted that in view of the aforesaid decision of t....