This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Amount received as compensation u/s 28 of Land Acquisition Act was taxable u/s 56(2)(viii) r.w.s 145B(1) and not exempt u/s 10(37)
Case Law Details
- Case Name
- Bhim Singh Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Bhim Singh Vs ITO (ITAT Delhi)
Conclusion: Compensation received under Section 28 of the Land Acquisition Act was taxable under section 56(2)(viii) r.w.s 145B(1) as the provisions of section 10(37) deal with ‘compensation’ only and not “interest on compensation or enhanced compensation.
Held: Assessee received an interest amount of Rs. 1,05,75,310 under Section 28 of the Land Acquisition Act as part of enhanced compensation for acquiring agricultural land. He filed his income tax return declaring Rs. 6,07,140 as a total income for the assessment year 2019-20 and claimed...
Author Info
