Enhanced compensation received – Taxability of amount u/s ...

Enhanced Compensation Taxable u/s 45(5)(b); No Benefit for Errors in Previous Tax Computations.

September 2, 2014

Case Laws Income Tax HC

Enhanced compensation received – Taxability of amount u/s 45(5)(b) – The assessee or Revenue cannot take advantage of a wrong computation or failure to tax or erroneous taxation in an earlier year - HC

View Source

← Previous Next →

Enhanced compensation received – Taxability of amount u/s ...

Enhanced Compensation Taxable u/s 45(5)(b); No Benefit for Errors in Previous Tax Computations.

September 2, 2014

Case Laws Income Tax HC

You may also like:

Interest on enhanced compensation is liable to be taxed under S. 56 even when compensation is treated as agricultural income and is not covered by Section 45

Characterization of receipt - interest received by the assessee u/s 28 and 34 of the Land Acquisition Act, 1894 - The Delhi High Court, in a case concerning the...

Interest received on enhanced compensation u/s 56(2)(viii) is taxable as income from other sources and not under capital gains. The Punjab & Haryana High Court's...

Characterization of interest received u/s 28 of the Land Acquisition Act, 1894, as part of enhanced compensation for compulsory acquisition of agricultural land. The key...

Enhanced Compensation – Interest on enhanced compensation - Waiver of Interest - assessee was entitled for waiver of interest till the date of receipt of enhanced...

The Income Tax Bill 2025 revises the scope of total income under existing Sec. 5 of ITA 1961, maintaining core taxation principles while introducing structural...

Income taxable In India - Taxability of compensation paid to the overseas Cricket Association for the termination of the agreement - Dependent Agent Permanent...

Money received by the assessee by way of enhanced compensation/interest - the decision in CIT v. Hindustan Housing and Land Development Trust Limited (1986 (7) TMI 10 -...

Interest component on enhanced compensation is liable to be taxed under Section 56 of the Act even when compensation is treated as agricultural income and is not covered...

Capital gain u/s 45 - compensation received by a partner from another partner for relinquishing rights in the partnership firm - the compensation received by the...

The Department of Commerce (DoC) has issued clarifications regarding the newly inserted SEZ Rule 11B, notified on 6.12.2023, which allows the setup of non-SEZ IT/ITES...

Interest received on compensation/enhanced compensation u/s 28 and 34 of the Land Acquisition Act - The compensation being exempt u/s 10(37) of the Act is not disputed....

Taxability u/s 45(5)(b) – Transfer of capital asset - the compensation awarded in the first instance would continue to be chargeable as income under the head “capital...

Electronic commerce operators (ECOs) required to pay tax u/s 9(5) of CGST Act for specified services supplied through their platform are not required to reverse...

Re-assessment - Time limitation for notices issued - period of limitation enhanced from 5 years to 6 years - Prospective or retrospective amendment - 5 year period...

Quick Updates: