2024 (8) TMI 1023

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....DR ORDER PER PRASHANT MAHARISHI, ACCOUNTANT MEMBER: 1. ITA 1139/Mum/2024 is filed by Sonal Samit Vartak for A.Y. 2011-12 against the appellate order passed by the National Faceless Appeal Centre, Delhi ('ld. CIT(A)') dated 17.12.2018 wherein the appeal filed by the assessee against the reassessment order passed u/s 143(3) r.w.s. 147 of the Act by the Income Tax Officer, Ward-35(3)(3) ('the ld. ....

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....ing." 3. The only grievance in the appeal is regarding addition of Rs. 25,21,508/- made by the ld. AO being hardship compensation received from builder for vacating the existing flat for re-development purposes taxed as income from other sources. The claim of the assessee is that such receipt is a capital receipt and not income. 4. The brief fact of the case shows that assessee has not filed any....

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....e assessee was assessed at Rs. 25,16,780/- by re-assessment order passed u/s 143(3) r.w.s. 147 of the Act by order dated 17.12.2018. 7. Assessee aggrieved with the same preferred an appeal before the ld. CIT(A) and reiterated the above submission. The ld. CIT(A) held that assessee has wrongly claimed that compensation received is a capital receipt accordingly, the appeal of the assessee was dismi....

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....the Hon'ble Bombay High Court in Writ Petion No. 4958 of 2024 in case of Sarfaraz S. Furniturewall dated 15.04.2024 wherein the Hon'ble High Court has held that any hardship allowance and rehabilitation allowance which is paid by the developer who suffers hardship due to dispossession cannot be considered as revenue receipt and same is not liable to be taxed. It is undisputed fact that assessee is....