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TMI Blog2011 (1) TMI 612X X X X Extracts X X X X X X X X Extracts X X X X ..... oceeding has not attained finality in view of the amendment to Section 45(5) of the Act. Interest on compensation awarded by the Collector was part of compensation while interest on enhanced compensation was to be treated as income from other sources - Hence, the appeal is answered in favour of the revenue - Accordingly, the appeal is allowed - 494 of 2010 - - - Dated:- 18-1-2011 - MR.JUSTICE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding that since in the present case the matter is still under dispute, the enhanced compensation and interest thereon received by the assessee is subject to litigation and has not reached the finality and therefore cannot be taxed in the year of dispute disregarding the fact that the entire controversy on the year of taxability of enhanced compensation and interest thereon has now come to rest wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eal, CIT(A) held that since enhanced compensation had not reached finality, the amount could not be taxed in the year of receipt as per judgment of this Court in ITA No.595 of 2005 (CIT Vs. Prem Singh) decided on 16.5.2007 which was based upon the judgment of this Court in ITR No.26 of 1997 (CIT, Patiala Vs. Karanbir Singh Rajinder Kuti, Patiala) decided on 17.1.2007 which in turn based upon the j ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income-Tax, Faridabad Vs. Bir Singh (HUF), Ballabgarh) decided on 27.10.2010. It was held that:- (a) that income from Business or profession and income from other sources are ascertained on the basis of system of accountancy followed by the assessee; (b) where assessee is not maintaining books of accounts by adopting any specific method, it shall be treated to be cash system of accoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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