2023 (10) TMI 1564

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.... PER M. BALAGANESH AM: This appeal of the Assessee arises out of the order of the Learned Commissioner of Income Tax (Appeals)-1, Gurgaon, [hereinafter referred to as 'Ld. CIT(A)'] in Appeal No. 156/2016-17 dated 26/04/2017 against the order passed by Income Tax Officer, Ward-1(3), Gurgaon (hereinafter referred to as the 'Ld. AO') u/s 143(3) of the Income Tax Act (hereinafter referred to as 'th....

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....1894 on enhanced compensation would be brought to tax in the facts and circumstances of the case. 4. We have heard the Ld. DR and perused the materials available on record. The assessee is an individual deriving income from interest from bank and interest income on enhanced compensation/compensation from DRO Cum LAC, Gurgaon. The return of income for AY 2013-14 was filed by the assessee on 20/0....

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....t, 2009 w.e.f 01/04/2010 wherein interest received on enhanced compensation was sought to be treated as income from other sources. The AO, however, very fairly applied the provisions of section 57 (iv) also by granting adhoc deduction to the extent of 50% of income. Accordingly, the Ld. AO added 50% of interest received on enhanced compensation amounting to Rs. 70,44,235/- (1,40,88,470/- x 50%) as....

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....r Jurisdictional High Court decision in the case of Jagmal Singh and Ors. vs. State of Haryana & Anr., in CR No. 7740/2012 dated 02/02/2016 and in the case of Sunderlal and Anr. vs. Union of India in CWP No. 2014 of 2015 dated 21/09/2015 and confirmed the action of the Ld. AO. 5. We find that the Ld. CIT(A) had followed the decisions of Hon'ble Jurisdictional High Court and denied the benefit t....