2023 (7) TMI 908 - SCH - Income Tax

Mainatainability of appeal in SC against ITAT order - Interest received on enhanced compensation u/s 28 of the Land Acquisition Act 1894 - whether it partakes nature of enhanced compensation and is exempt from tax u/s 10 (37) OR provision of section 145B and section 56(2)(viii) ? - As held by ITAT 2023 (1) TMI 824 - ITAT DELHI interest received on enhanced compensation is taxable u/s 56(2)(viii) - HELD THAT - We note that the petitioner has approached this Court against the order passed by the Tribunal without taking recourse to filing an appeal before the jurisdictional High Court under Section 260-A of the Act. In the circumstances the Special Leave Petition is dismissed reserving liberty to the petitioner to file an appeal under the aforesaid provision before the High Court if so advised. If the appeal is filed within a period of 30 days from today the High Court shall not raise the issue of limitation.

Summary

The Supreme Court dismissed the Special Leave Petition, advising the petitioner to file an appeal before the High Court within 30 days to avoid limitation issues.