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TMI Blog2014 (11) TMI 937X X X X Extracts X X X X X X X X Extracts X X X X ..... urt - Naturally the payment of compensation was also made in a staggered manner depending on the nature of adjudication - the assessing authority took the view that it is only amount which is determined by the Land Acquisition Officer, that can be the subject matter of the exemption u/s 54 - it is a misnomer to call the enhanced amount as additional compensation – thus, the order of the Tribunal is set aside and the benefit u/s 54-H of the I.T. Act shall be extended to the entire amount of compensation – Decided in favour of assessee. - I.T.T.A. NO. 47 OF 2002 - - - Dated:- 23-7-2014 - L. NARASIMHA REDDY AND CHALLA KODANDA RAM, JJ. For The Appellant : A.V. Krishna Kaundinya For The Respondent : J.V. Prasad JUDGMENT L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nch of the Income Tax Appellate Tribunal being I.T.T.A.Nos.571 and 572/Hyd/96 were also rejected, through order, dated 30.05.2001. Hence, this appeal against the common order. 3. The substantial question of law raised by the appellant reads: Whether on the facts and circumstances of the case the word compensation as referred to in Section 45(5)/54H of the Income Tax Act, 1961 includes the additional compensation or not? 4. Heard learned counsel for the appellant and learned counsel for the respondent. 5. The compensation received by the owner of the property whenever it is acquired under the Act is treated as capital gains and it is made subject to levy of capital gains tax. However, certain relief is granted by the Parliament to s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s under the Act have employed the expression additional compensation. In our view, it is a misnomer to call the enhanced amount as additional compensation. The word compensation connotes not only the market value but also the other components such as solatium and additional market value provided for under the Act. The determination thereof may assume finality, in some case, at the stage of the award and in some cases, in the reference made under Section 18 of the Act by the Civil Court and in yet other cases, by the High Court. In certain given cases, the matter may even reach the Supreme Court. At various levels, the compensation may be either enhanced or reduced. The final figure represents the compensation. There is nothing like addition ..... X X X X Extracts X X X X X X X X Extracts X X X X
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