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Income Tax Appellate Tribunal, PUNE BENCH “SMC”, PUNE
Before: SHRI INTURI RAMA RAO
ORDER
PER INTURI RAMA RAO, AM:
This is an appeal filed by the assessee directed against the order of the National Faceless Appeal Centre, Delhi [‘NFAC’] dated 31.03.2022 for the assessment year 2011-12.
Briefly, the facts of the case are that the appellant is an individual. Voluntarily, no regular Return of Income for the assessment year 2011-12 was filed by the appellant under the provisions of section 139 of the Income Tax Act, 1961 (‘the Act’).
On receipt of the information that the appellant had received enhanced compensation of Rs.60,58,208/- and interest on such compensation of Rs.30,29,104/- from the Deputy Collector, Land Acquisition (Ausa-Renapur), Latur, the Assessing Officer issued a notice u/s 148 of the Act dated 23.03.2018. In response to the notice u/s 148, the appellant had filed the return of income on 28.03.2018 declaring Rs.Nil income and claimed exemption of enhanced compensation and interest on such compensation amounting to Rs.60,58,208/- as exempt u/s 10(37) of the Act. Against the said return of income, the assessment was completed by the Income Tax Officer, Ward-1, Latur (‘the Assessing Officer’) vide order dated 22.12.2018 passed u/s 143(3) r.w.s. 147 of the Act by bringing to tax the interest received on enhanced compensation of Rs.30,29,104/- (being 50% of the enhanced compensation of Rs.60,58,208/-) and bank interest of Rs.34,502/-.
Being aggrieved by the above order of assessment, an appeal was filed before the NFAC, who vide impugned order confirmed the action of the Assessing Officer as well as dismissed the appeal ex-parte, as the appellant had failed to respond the notice of hearing.
Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal.