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Interest on enhanced compensation taxable as Other Income post Section 56(2)(viii) amendment
Case Law Details
- Case Name
- Ajay Kumar Vs ITO (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Chandigarh
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Ajay Kumar Vs ITO (ITAT Chandigarh)
ITAT: Interest on enhanced compensation taxable as Income From Other Sources post-amendment u/s 56(2)(viii); Ghanshyam (HUF) ruling inapplicable
The assessee, Shri Ajay Kumar, is an individual whose agricultural land was compulsorily acquired by the Haryana Urban Development Authority (HUDA). Consequent to the enhancement of compensation by the learned Additional District Judge vide order dated 24.12.2013, which was further affirmed and enhanced by the Hon’ble Punjab & Haryana High Court vide order dated 22.07.2015, the assessee recei...
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