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TMI Blog2010 (12) TMI 361X X X X Extracts X X X X X X X X Extracts X X X X ..... on 45(5)(b) of the Act irrespective of the pendency of any litigation at the behest of the State in any court of law - Decided in favour of the revenue and against the assessee. Deduction u/s 54B & 54F - The Tribunal has not decided the issue relating to deduction u/s 54B and 54F of the Act, the matter is remanded to the Tribunal for decision in this regard in accordance with law. - ITA No. 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... circumstances of the case, the Hon'ble ITAT was right in law in upholding the order of the CIT(A) directing the Assessing Officer not to treat that percentage of capital gain and interest arising out of payment which is covered by security as income for the year when the law had already been changed by amendment and new section 45(5) was inserted w.e.f. 01.04.1988? 2. Whether on the facts and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g books of accounts by adopting any specific method, it shall be treated to be cash system of accountancy; (c) the interest under Section 34 to be awarded by the Collector partakes the characters of compensation and is taxable in the year of receipt in view of Section 45(5)(b) of the Act; and (d) under cash system of accountancy, the element of interest awarded by the Court received on enh ..... X X X X Extracts X X X X X X X X Extracts X X X X
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