2020 (8) TMI 61

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..... does not fall under the category of capital asset, the Ld. AO (as well as Ld. CIT(A)) ought not to have levied tax on amount received by me u/s 28 of Land Acquisition Act 1984. 2) The Ld AO erred (Ld CIT(A) erred in confirming) in taxing the income which was effectively not received by the me. 3) The assessee craves the liberty to add, alter or amend any of the grounds of appeal or to take any fresh ground of appeal at the time of hearing." The core issue relates to the taxation of the sum of Rs. 3,10,33,961/-. 3. The relevant facts on the issue for adjudication include that the assessee had agricultural land, which was acquired by the Government in the year 1993. Assessee received compensation for the land, solatium, interest etc. In .....

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..... extracted hereunder :- "10. The Commissioner of Income Tax (Appeals) while confirming the order of Assessing Officer has observed that the case of assessee is covered by the decision of Hon'ble Apex Court in the case of Bikram Singh & Ors. Vs. Land Acquisition Collector & Ors. (supra) as the said judgment is delivered by Larger Bench and prevails over the decision rendered in the case of Commissioner of Income Tax Vs. Ghanshyam (HUF) (supra) which is though subsequent in time but is rendered by Division Bench. We do not concur with the findings of Commissioner of Income Tax (Appeals) to make the addition. Undisputedly, while rendering the decision in the case of Commissioner of Income Tax Vs. Ghanshyam (HUF) (supra) the judgment of Large .....

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..... order of the Tribunal in the case of Dnyanoba Shajirao Jadhav (supra). Accordingly, we direct the Assessing Officer to follow the decision of the Tribunal in the case of Dnyanoba Shajirao Jadhav (supra) as well as the Hon'ble Supreme Court's judgement in the case of Ghanshyam (HUF) (supra). The Assessing Officer shall decide the issue after granting reasonable opportunity of being heard to the assessee during the remand proceedings and allow the claim after due verification of the calculation, figures and the applicability of the said decisions cited above (supra). Thus, the grounds raised by the assessee are allowed for statistical purposes. 7. In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounc .....

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