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Case Law Details

Case Name : Veena Rani Vs PCIT (ITAT Delhi)
Related Assessment Year : 2018-19
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Veena Rani Vs PCIT (ITAT Delhi)

Assessee being an individual filed his return of income FOR AY 2018-19 declaring income of Rs. 21,60,670/- which was processed u/s. 143(1) of the Act. The assessee has received Rs. 2,54,24,007/- as interest on enhanced compensation from HUDA after the compulsory acquisition of the agriculture land of the assessee, on which TDS @10% was also deducted. In the return of income in Schedule EI, the assessee has claimed interest income of Rs. 2,54,24,007/- as exempt. The case of the assessee was selected for scrutiny and AO completed the assessment u/s. 14

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