9911796707
TMI Blog2014 (2) TMI 961X X X X Extracts X X X X X X X X Extracts X X X X ..... d in favor of assessee. - Wealth Tax Appeal No. - 148 of 1999, Wealth Tax Appeal No. - 151 of 1999 - - - Dated:- 12-12-2013 - Hon'ble Dr. Satish Chandra And Hon'ble B. Amit Sthalekar,JJ. For the Appellant : C.S.C.,A.N.Mahajan,S Chopra ORDER The present appeal has been filed by the Department under Section 27A of the Wealth Tax Act, against the judgment and order dated 18.12.1998, pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h the service is sufficient as per the office report. After hearing learned counsel for the Department and on perusal of the record, it appears that the land of the assessee was acquired by the Government in the year 1983-84. The assessee has received first installment of compensation only on 07.05.1984. The same was brought to the Wealth Tax. However, the assessee was not satisfied, so a case w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee-claimant is in receipt of enhanced compensation it shall be treated as "deemed income" and taxed on receipt basis. Hence, the year in which enhanced compensation is received is the year of taxability. Consequently, even in cases where pending appeal, the court/tribunal/authority before which the appeal is pending, permits the claimant to withdraw against security or otherwise the enhanced c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wner for the full value of the property as on the date of the notification. Interest is different from compensation. Interest paid on the excess amount under Section 28 of the Land Acquisition Act, 1894, depends upon a claim made by the person whose land is acquired, whereas interest under Section 34 is for delay in making payment; it postulates award of interest at 9 per cent. Per annum from th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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