TaxTMI 
TaxTMI 
2023 (9) TMI 1508
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....under section 250 of the Act in so far as it is against the Appellant is opposed to law, weight of evidence, natural justice, probabilities, facts and circumstances of the Appellant's case. 2) The appellant denies himself liable to be assessed total income of Rs. 10,43,479 against the income returned by the appellant of Rs. 1,76,583/- 2. The assessee also filed additional grounds of appeal, which is as under:- "i) The learned CIT(A) failed appreciate that interest income on enhanced compensation for acquisition of agriculture property was to be considered as part of consideration & since sale of agricultural property being a capital receipt was exempt no income was taxable on the facts and circumstances of the case. 2) The learne....
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....aves leave to add, alter, amend, substitute, change and delete any of the grounds of appeal. 3. The assessee has also filed second additional ground of appeal, which is as under:- "1. The learned Assessing officer failed to appreciate that the enhanced compensation received was to be partitioned among seven legal heirs 11 including the appellant, on the facts and circumstances of the case. 2. The learned Assessing officer was not justified in appreciating that it is settled position that "Consent does not confer jurisdiction" on the facts and circumstances of the case. 3. Without prejudice and not conceding that the enhanced compensation was in the nature of a capital receipt, the income if any was to be restricted to 1/7th share of ....
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....e assessee and accordingly the CIT(A) decided the issue on the basis of the documents available before him. During the course of appellate proceedings, the assessee filed written synopsis, which has been incorporated by the CIT(A) in his order. The CIT(A) after considering the issue regarding additional compensation awarded u/s 23(1)(a) of the Act and solatium u/s 23(2) of the Act, noted that section 28 is applicable only in respect of the excess amount which has been determined by the Court after reference u/s 18 of the 1894 Act. The CIT(A) after discussing the issue in detail & relied judgments dismissed the appeal of the assessee by observing as under:- "6.6 DECISION: With the above discussion, it is decided that the intere....
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....eduction as per sec. 56(2)(viii) r.w.s 57(iv) of the I. T. Act. Accordingly, he requested that the matter may be sent back to the AO for a fresh computation of the income. The ld.AR of the assessee also requested that the TDS credit should be given as per Form No.26AS to the assessee.. 10. The ld. DR relied on the other hand relied on the order of the lower authorities. He submitted that the CIT(A) has rightly taxed in the hands of the assessee and the facts about seven beneficiaries were not brought to the notice of the CIT(A) during the appellate proceedings. The case law relied by the ld.CIT(A) is squarely applicable in the present facts of the case. The amendment made by the Finance Act in this regard is squarely applicable and the cas....