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“Section 45(5)(a)”

Section References (mined)Section 45Section 45(5)(a)10 judgments

The decision most relied on for Section 45(5)(a) is CIT v. Ghanshyam (HUF) (315 ITR 1), cited in 363 judgments on BharatTax.

Leading authorities on Section 45(5)(a)

CIT v. Ghanshyam (HUF)
315 ITR 1 · 2009 · Supreme Court
363
citing judgments

Interest received under Section 28 of the Land Acquisition Act, 1894, is considered part of the enhanced compensation on compulsory acquisition of land. It is taxable as 'capital gains' and not separately as 'interest income' under the head Income from Other Sources.

Rama Bai v. CIT
181 ITR 400 · 1990 · Supreme Court
258
citing judgments

Interest income is taxable on either an accrual or cash basis, determined by accounting principles. This method was applicable prior to legislative changes that simplified the taxation of interest income.

CIT v. Govindbhai Mamaiya
91 Taxmann.com 20 · 2018 · Supreme Court
205
citing judgments

Interest on enhanced compensation received under Section 28 of the Land Acquisition Act, 1894, is considered part of the compensation, not merely interest income, and is exigible to tax on a receipt basis.

CIT v. Sohana Woollen Mills
296 ITR 238 · 2008 · High Court
180
citing judgments

A mere audit objection, by itself, is insufficient to infer that an Assessing Officer's order is erroneous or prejudicial to the interest of the Revenue for the purpose of initiating revisional proceedings.

Mahender Pal Narang v. CBDT
161 Taxmann.com 301 · 2024 · High Court
178
citing judgments

Interest received as enhanced compensation under Section 28 of the Land Acquisition Act, 1894, for compulsory acquisition of land is taxable as "income from other sources" under Sections 56(2)(viii) and 57(iv) of the Income-tax Act, 1961, and is not exempt under Section 10(37).

CIT v. Hindustan Coca Cola Beverages P Ltd.
331 ITR 192 · 2011 · High Court
152
citing judgments

The Principal Commissioner of Income Tax cannot exercise revisional jurisdiction under Section 263 if the Assessing Officer has taken one of two possible views on a debatable issue during assessment proceedings.

CIT v. Ganpat Ram Bisnoi
296 ITR 292 · 2008 · High Court
145
citing judgments

An assessment order cannot be revised under Section 263 for being erroneous due to a perceived lack of enquiry if the Assessing Officer has already conducted an enquiry, applied their mind, and accepted the assessee's explanation.

CIT v. Lakhani Marketing Inc.
49 Taxmann.com 257 · 2014 · High Court
145
citing judgments

Disallowance under Section 14A of the Income Tax Act, 1961, cannot exceed the actual tax-exempt income earned by the assessee during the relevant year. If no tax-exempt income is earned, no disallowance under Section 14A is warranted.

Judgments citing Section 45(5)(a)

Shri Ranjeet Singh, Bathinda vs. Income Tax Officer Ward-1 (1), Bathinda

In the result, both the appeals of the assessee are allowed

ITA 91/ASR/2023[2016-17]Status: DisposedITAT Amritsar30 Aug 2023AY 2016-17

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Sudhir Sehgal Adv. &For Respondent: Sh. Digvijai Chaudhary, Sr. DR
Section 96

compensation on account of compulsory acquisition of land has been received during the FY 2015-16 [i.e. 19.05.2015] the same is taxable under Section 45(5)(a) of the Act in the previous year in which such compensation has been first received. b) Reliance is placed on the letter ... since the compensation on account of compulsory acquisition of land has been received during the FY 2015-16 (i.e.19.05.2015) which is taxable under Section 45(5)(a) of the Act in the previous year in which such compensation has been first received and that misinterpreted the letter of Ranjeet Singhv

Deputy Commissiner of Income Tax, Lic Building vs. M/S Gee Vee Developers Pvt. Ltd., Jaipur

In the result, the appeals of the revenue stands dismissed

ITA 267/JPR/2022[2016-17]Status: DisposedITAT Jaipur24 May 2023AY 2016-17

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLEH JAYANTBHAI (Accountant Member)

Section 143(3)

facts: Sr. Issued raised by the assessee Finding of the AO No. 1 As the land was acquired by JDA in As per Section 45(5)(a) of the the financial year 2005/2006 and Act, the consideration received as such capital gain (if any) was on transfer of a capital ... forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory

Deputy Commissioner of Income Tax, Central Circle-3, Jaipur vs. M/S Vision Estates Pvt. Ltd., Jaipur

In the result, the appeals of the revenue stands dismissed

ITA 266/JPR/2022[2016-17]Status: DisposedITAT Jaipur24 May 2023AY 2016-17

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLEH JAYANTBHAI (Accountant Member)

Section 143(3)

facts: Sr. Issued raised by the assessee Finding of the AO No. 1 As the land was acquired by JDA in As per Section 45(5)(a) of the the financial year 2005/2006 and Act, the consideration received as such capital gain (if any) was on transfer of a capital ... forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory

Deputy Commissioner of Income-Tax, Central Circle-3, Jaipur vs. M/S Chokhi Dhani Developers Pvt. Ltd., Jaipur

In the result, the appeals of the revenue stands dismissed

ITA 265/JPR/2022[2016-17]Status: DisposedITAT Jaipur24 May 2023AY 2016-17

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLEH JAYANTBHAI (Accountant Member)

Section 143(3)

facts: Sr. Issued raised by the assessee Finding of the AO No. 1 As the land was acquired by JDA in As per Section 45(5)(a) of the the financial year 2005/2006 and Act, the consideration received as such capital gain (if any) was on transfer of a capital ... forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory

Deputy Commissioner of Income-Tax, Central Circle-3, Jaipur vs. M/S Rigid Conductors (Raj.) Pvt. Ltd., Jaipur

In the result, the appeals of the revenue stands dismissed

ITA 264/JPR/2022[2016-17]Status: DisposedITAT Jaipur24 May 2023AY 2016-17

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLEH JAYANTBHAI (Accountant Member)

Section 143(3)

facts: Sr. Issued raised by the assessee Finding of the AO No. 1 As the land was acquired by JDA in As per Section 45(5)(a) of the the financial year 2005/2006 and Act, the consideration received as such capital gain (if any) was on transfer of a capital ... forms of land transfer. Hence, the case is squarely covered under the definition of transfer of capital asset. Also section 45(5) of the I.T.Act, 1961 is related to capital gain in case of compulsory acquisition of land which is applicable in this case. Hence, the assessee’s theory

Amar Dyeing Works (Regd.), New Delhi vs. ITO, Ward- 30(5), New Delhi

In the result, the appeal of the assessee is allowed for statistical purpose

ITA 1452/DEL/2019[2015-16]Status: DisposedITAT Delhi09 May 2023AY 2015-16

Bench: Sh. C. M. Gargdr. B. R. R. Kumar

For Appellant: Sh. Shrey Jain, AdvFor Respondent: Sh. Kanv Bali, Sr. DR
Section 234ASection 45(5)(a)

THE INCOME TAX APPELLATE TRIBUNAL DELHIBENCH ‘A’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R

Income Tax Officer Ward-2 (1), Jammu vs. Shri Mohd Aslam Baggar, Jammu

In the result, the appeal of the department is dismissed

ITA 104/ASR/2020[2015-16]Status: DisposedITAT Amritsar28 Feb 2023AY 2015-16

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

For Appellant: Sh. Joginder Singh, CAFor Respondent: Sh. Hitendra Bhauraoji Ninawe, CIT DR
Section 10Section 10(37)Section 45(5)

that the capital gains were to be calculated/leviable based on the year in the which the compensation was actually received in terms of Section 45(5) i.e. FY 2014-15 and not the year in which the land was acquired. The appellant craves to amend ... coming to the legal issue of applicability of section 10(37) of the Act as claimed by the appellant before the A.O. or section 45(5)(a) of the Act under which the Assessing Officer charged the appellant with Capital gain, it is imperative to examine the facts

Anil Bhagwan Advani, Mumbai vs. ITO (It) 1(1), Mumbai

In the result, appeal of the assessee is allowed

ITA 4385/MUM/2015[2011-12]Status: DisposedITAT Mumbai28 Jul 2022AY 2011-12

Bench: Shri Amit Shukla & Shri Gagan Goyal

For Appellant: Sh. Tapas MisraFor Respondent: Smt. Shailja Rai, CIT-DR
Section 154Section 251(1)Section 45(5)(b)Section 48Section 55A

Defence/Special Land Acquisition Officer pursuant to the Supreme Court order and tax the same under the head 'Capital Gain' in terms of section 45(5)(b) r.w.s. 48 of the IT Act and the balance interest paid to assessee for any delay in payment of the compensation, from the date ... enhancement of the consideration by any court, tribunal authority or other authority, the capital gains shall be dealt in the manner specified under Section 45(5) of the Act. In view of the above mentioned discussion, I consider it proper and appropriate to hold that

Leila Advani, Mumbai vs. ACIT - 16(2), Mumbai

In the result, appeal of the revenue is dismissed

ITA 2270/MUM/2016[2011-12]Status: DisposedITAT Mumbai18 Jul 2022AY 2011-12
For Appellant: Sh. Tapas MishraFor Respondent: Smt. Shailja Rai, CIT-DR
Section 143Section 143(2)Section 45(5)(b)Section 48Section 48(1)Section 54F

Defence Special Land Acquisition Officer pursuant to the Supreme Court order and tax the same under the head 'Capital Gain in terms of section 45(5)(b) r.w.s. 48 of the I.T Act and the balance interest paid to assessee for any delay in payment of the compensation from ... compensation (enhanced) received for abolition of Jagirs for the trees standing on Jagir lands is assessable in the year of receipt as per section 45(5)(b); 5 lakhs in the assessment year 1987-88 and Rs. 18,97,697 in 1989-90 when the compensation was received

Commissioner of Income Tax vs. Sharda Kochhar

The appeal is disposed of,

ITA - 171 / 2001HC Delhi18 Jul 2014
Section 148Section 260ASection 4Section 45(1)Section 45(5)

received by the assessee during the previous year relevant to assessment year 1988-89 is taxable in view of the provisions of Section 45(5) (b) of the I.T. Act? (B) Whether the Ld. ITAT is correct in law in holding that the decision of the Hon’ble Supreme Court ... Hindustan Housing and Land Development Trust, (1986) 161 ITR 524 (SC) cannot apply in view of the provisions of newly enacted Section 45(5) inserted with effect from 1st April, 1988. He accordingly computed the total taxable income as Rs.67,71,560/-. 3. The respondent-assessee did not succeed