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TMI Blog2019 (6) TMI 439X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome in the case of an assessee, being an individual or a Hindu undivided family, any income chargeable under the head Capital Gains arising from the transfer of agricultural land and such transfer is by way of compulsory acquisition under any law, or a transfer the consideration for which is determined or approved by the Central Government or the Reserve Bank of India and where such income has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MR. G. NARENDAR AND MR. BELLUNKE A.S. JJ. APPELLANT (BY SRI M.V. SESHACHALA SENIOR COUNSEL FOR SRI GANGADHAR J.M. ADVCOATE) RESPONDENTS (BY SRI Y.V. RAVIRAJ, ADVCOATE) G. NARENDAR J., JUDGMENT Heard the learned senior counsel Sri Seshachala along with Sri G.M. Gangadhar learned counsel for the appellant and Sri Y.V. Raviraj, Senior st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... crual basis. That the law with regard to the method of computation of the income came to be settled by the Hon ble Apex Court in the case of Commissioner of Income Tax Vs. Ghanshyam [(2009) 315 ITR 1 (SC)], wherein the Hon ble Apex Court was pleased to lay down the law that the computation of income sought to be made on receipt basis. 4. It is not in dispute that under the amended pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the Assessing Officer and hence the same requires to be appreciated by the Original Authority. 6. During the course of arguments, the learned Senior counsel placed reliance on the provisions of Section 10(37) of the Income Tax Act which undoubtedly came to be inserted vide amendment dated 01.04.2005 and the provision of Section 145A came to be substituted with effect from 01.04.2010. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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