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TMI Blog2018 (9) TMI 2115X X X X Extracts X X X X X X X X Extracts X X X X ..... order for the sake of convenience. 2. The brief facts are as under:- (I) ITA No. 685/Del/2017 has been preferred against order dated 24.06.2016 passed by the Ld. CIT (A)-I, Gurgaon for assessment year 2013-14. The assessee is an agriculturalist and the rural agricultural land of the assessee was acquired by the Haryana State Industrial & Infrastructure Development Corporation Ltd. (HSIIDC) under section 4 of the Land Acquisition Act, 1894 for developing industrial area in Manesar, Gurgaon. Since, HSIIDC had not paid the compensation at the prevailing market rate, the assessee had approached the Ld. Additional District Judge, Gurgaon who awarded enhanced compensation u/s 19, read with sections 23(1A), 23(2) and 28 of the Land Acquisition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... held by the Ld. CIT (A) against which the assessee has now approached the Tribunal. (IV) ITA No. 4163/Del/2017 is the assessee's appeal against order dated 08.08.2016 passed by the Ld. CIT (A)-I, Gurgaon. In this case, the Ld. Additional District Judge, Gurgaon had awarded compensation of Rs. 1,15,98,011/- which was claimed as exempt by the assessee and the AO had proceeded to make an addition of Rs. 57,99,005/- which was upheld by the Ld. CIT (A). Consequently, the assessee is now before the ITAT challenging the action of the Ld. CIT (A) in upholding the addition. (V) ITA No. 6615/Del/2016 is the assessee's appeal against order dated 14.10.2016 passed by the Ld. CIT (A)-I, Gurgaon for assessment year 2013-14. The compensation awarded in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d is involved. The Ld. Authorised Representative submitted that the assessees had, before the lower authorities, placed reliance on the judgment of the Hon'ble Apex Court in the case of CIT vs. Ghanshyam (HUF) reported in 315 ITR 1 (SC) wherein the Hon'ble Apex Court had held that the interest allowed on compensation was part of the total compensation and was, therefore, exempt from levy of Income Tax. It was further submitted that although there was an amendment in the Income Tax Act with effect from 01.04.2010 so as to tax the interest in the year of receipt but in view of the judgment of the Hon'ble Apex Court in the case of Ghanshyam HUF (supra) interest continued to be part of the compensation and, therefore, this amendment did not cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tive agreed that the issue can best be examined and verified by the Assessing Officer. 7. Accordingly, we restore all the six appeals to the office of the respective Assessing Officer (s) with the direction to determine as to whether the interest paid amounted to compensation or not and follow the judgment of the Hon'ble Apex Court as rendered in the case of CIT vs. Ghanshyam HUF (supra) as has been directed in Civil Appeal no. 15041 of 2017 in the case of Union of India & Ors. Vs.Hari Singh & Ors. (supra). We also direct the respective Assessing Officer(s) to provide reasonable opportunity to the assessees before the adjudicating the issue as per law and as per the directions of the Hon'ble Apex Court as aforesaid. We also direct the resp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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