2024 (12) TMI 1427

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....Y, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi (hereinafter referred to as 'the CIT(A)') dated 31.12.2023, for assessment year 2018-19. 2. The solitary issue raised by the assessee in appeal is against confirming addition of interest income received on compensation received u/s. 28 of th....

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....he assessment order dated 09.02.2021 passed u/s. 143(3) r.w.s. 143(3A) and 143(3B) of the Act, the assessee filed appeal before the CIT(A), but remained unsuccessful. Hence, present appeal by the assessee. 3. I have examined the orders of the authorities below and have considered the decisions on which both sides have placed reliance. The provisions of section 56(2) of the Act were amended by t....

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....hat interest received on compensation or enhanced compensation is to be treated as 'Income from Other Sources' and not under the head 'Capital Gains'. Recently, the Hon'ble Jurisdictional High Court in the case of PCIT vs. Inderjit Singh Sodhi HUF, 161 taxmann.com 301 held that interest whether on compensation or enhanced compensation received on acquisition of land u/s. 28 or u/s. 34 of the L....