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TMI Blog2024 (12) TMI 1427X X X X Extracts X X X X X X X X Extracts X X X X ..... mpensation on compulsory acquisition of land under the Land Acquisition Act, 1894 and claimed interest as part of the compensation and exempt from tax u/s. 10(37) - scope of provisions of section 56(2) of the Act were amended by the Finance (No.2) Act 2009 w.e.f 01.04.2010 - HELD THAT:- Hon'ble Apex Court in the case of CIT vs Ghanshyam HUF [ 2009 (7) TMI 12 - SUPREME COURT] has held that inte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as Income from Other Sources u/s. 56(2)(viii) - Decided against assessee. - Shri Vikas Awasthy, Judicial Member For the Appellant : None For the Respondent : Shri Sanjay Kumar, Sr. DR ORDER PER VIKAS AWASTHY, JM: This appeal by the assessee is directed against the order of Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi (hereinafter referred to as 'the CIT(A)' ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITR 1. In assessment proceedings, the Assessing Officer (AO) treated amount of Rs. 53,69,890/- awarded to the assessee as interest on enhanced compensation, as income from other sources. Aggrieved by the assessment order dated 09.02.2021 passed u/s. 143(3) r.w.s. 143(3A) and 143(3B) of the Act, the assessee filed appeal before the CIT(A), but remained unsuccessful. Hence, present appeal by the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vs CBDT, 120 taxmann.com 400 (P H) after considering amended provisions of section 56(2) of the Act distinguished the decision rendered in the case of Ghanshyam HUF (supra) and held that interest received on compensation or enhanced compensation is to be treated as Income from Other Sources and not under the head Capital Gains . Recently, the Hon'ble Jurisdictional High Court in the case of P ..... X X X X Extracts X X X X X X X X Extracts X X X X
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