TaxTMI 
TaxTMI 
2026 (8) TMI 1761
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.... 27.01.2023 3 441/Chd/2023 2015-16 18.05.2023 4 612/Chd/2023 2017-18 31.5.2022 5 & 6 36 & 37/Chd/2023 2016-17 & 2018-19 13.12.2021 7 397/Chd/2023 2017-18 26.09.2024 2. Since common identical grounds have been raised in all the appeals and the issues raised in all the appeals being identical, they were heard together and are being disposed off by this common and consolidated order. 3. The Registry has pointed out that there was a delay of one day in filing of this appeal and in ITA No. 217/Chd/2024 and delay of 12 days in ITA No. 199/Chd/2023, 29 days in ITA No. 612/Chd/2022 and 108 days in 397/Chd/2025. During the proceedings before us, the ld. Counsel for the Assessee has submitted separate applications / affidavit(s) for condonation of delay. 4. We have considered the reasoning given in the Applications / Affidavit (s) and inclined to condone the delay. 5. The ld. DR did not have any objection for this condonation of delay. 6. We shall deal with ITA No. 217/Chd/2023 and ITA No. 612/Chd/2022, as a lead case, wherein the common identical grounds raised are as under: - 1. That the Ld. CIT(A) has erred in confirm....
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....income of Rs. 9,15,440/-. 7.3 Aggrieved by the aforesaid rectification order, the assessee preferred an appeal before the learned CIT(A). The learned CIT(A), however, upheld the action of the CPC by holding that the exemption under section 10(37) is confined to capital gains arising on compulsory acquisition of agricultural land and does not extend to interest received on enhanced compensation which is specifically taxable under section 56(2)(viii) read with section 145B(1) of the Act. The appeal of the assessee was accordingly dismissed. Being aggrieved, the assessee is now in appeal before the Tribunal. 7.4 The learned Authorised Representative submitted that the authorities below have erred both on facts and in law in treating the interest received on enhanced compensation as taxable income under the head "Income from Other Sources". He submitted that the agricultural land of the assessee had been compulsorily acquired and, pursuant to the orders passed by the Hon'ble Punjab & Haryana High Court, the assessee received enhanced compensation together with interest under section 28 of the Land Acquisition Act. 7.5 It was contended that the interest awarded under sectio....
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....ction 145B(1) clearly stipulates that such interest shall be deemed to be the income of the previous year in which it is received. Therefore, once the assessee admittedly received interest on enhanced compensation during the relevant previous year, the same was rightly brought to tax by the CPC. It was further argued that section 10(37) grants exemption only in respect of capital gains arising from compulsory acquisition of agricultural land and does not extend to interest received on such compensation. The Legislature has consciously enacted a separate charging provision for taxing interest received on compensation and, therefore, the assessee cannot seek exemption by treating the same as part of the compensation. 8.3 The learned DR accordingly submitted that the learned CIT(A) has correctly interpreted the statutory provisions and rightly confirmed the addition made by the CPC. He, therefore, prayed that the order of the learned CIT(A) be upheld and the appeal of the assessee be dismissed. He had also relied upon the decision of the Coordinate Bench in the case of Ajay Jain. 9. We have heard the rival submissions and perused the material available on record. The solitary is....
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....recall or rectification of orders under section 254(2) of the Act pursuant to subsequent judgments of superior judicial forums is clearly distinguishable. In such cases, the original order of the Tribunal was passed in conformity with the law prevailing at the relevant point of time and the subsequent reversal or modification of that legal position by the Hon'ble Supreme Court justified the exercise of powers under section 254(2). The facts of the present case stand on an entirely different footing. Here, on the very date when the impugned order came to be passed, the issue was governed by the binding judgment of the Hon'ble Jurisdictional High Court in Manjit Singh Narang (supra), which was directly against the claim of the assessee. Therefore, no fault can be found either with the action of the Assessing Officer or with the order passed by the learned CIT(A), both of whom have merely followed the law declared by the Hon'ble Jurisdictional High Court. 12. However, before parting with the matter, we consider it appropriate to clarify one important aspect. We find that in certain cases, including the present one, the Assessing Officer, CPC or the learned CIT(A) has su....