{"id":36122,"date":"2023-08-28T16:47:35","date_gmt":"2023-08-28T11:17:35","guid":{"rendered":"https:\/\/itatonline.org\/digest\/gunwant-kaur-v-cit-2022-96-itr-21-sn-amritsar-trib\/"},"modified":"2023-08-28T16:47:35","modified_gmt":"2023-08-28T11:17:35","slug":"gunwant-kaur-v-cit-2022-96-itr-21-sn-amritsar-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/gunwant-kaur-v-cit-2022-96-itr-21-sn-amritsar-trib\/","title":{"rendered":"Gunwant Kaur v. CIT (2022) 96 ITR 21 (SN) (Amritsar) (Trib)"},"content":{"rendered":"<p>The Tribunal held that interest on compensation is treated as income from other sources in section\u00a056(2)(viii)\u00a0of the Act pursuant to an amendment with effect from April 1, 2010 by the Finance (No. 2) Act, 2009. Irrespective of the system of accountancy being followed by the assessee, interest on enhanced compensation shall be taxable in the year of receipt. For considering the hardship of the assessee 50 per cent. deduction was allowed under section\u00a057(iv)\u00a0of the Act. (AY.\u00a0 2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 56 : Income from other sources-Interest on enhanced compensation for compulsory acquisition of  land-Method of accounting-Taxable in year of  receipt irrespective of  system of  accounts followed-Considering hardship  50 Per Cent. deduction allowed [S. 56(2)(viii),  57(iv), 145A]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-36122","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9oC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=36122"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36122\/revisions"}],"predecessor-version":[{"id":36123,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/36122\/revisions\/36123"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=36122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=36122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=36122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}