BALBIR KUMAR HUF,CHANDIGARH vs. ITO , CHANDIGARH

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SMT. SHANKRI DEVI,PANCHKULA vs. ACIT, PANCKULA CIRCLE, PANCHKULA

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

PAWAN KUMAR,FATEHABAD vs. INCOME TAX OFFICER WARD-1, FATEHABAD

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SH. AMARDEEP SINGH ATHWAL,YAMUNANAGAR vs. ITO, WARD-1, YAMUNANAGAR

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

SAROJ CHAUDHARY BALA,PANCHKULA vs. ITO, WARD-4, PANCHKULA

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

RANJIT SINGH,PANCHKULA vs. DEPUTY DIRECTOR, CPC DEPARTMENT

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

INCOME TAX OFFICER, FATEHABAD vs. MAHESH NAGPAL, FATEHABAD

Bench: SHRI. LALIET KUMAR (Judicial Member), SHRI. KRINWANT SAHAY (Accountant Member)

Section 16 or Section 17 of the Act. We, therefore, hold that the statutory interest paid under Section 34 of the Act is interest paid for the delayed payment of the compensation amount and, therefore, is a revenue receipt liable to tax under the Income Tax Act." 9. This position of law has been consistently reiterated by this Court

KAKA SINGH ALIAS GULJAR SINGH,PATIALA vs. INCOME TAX OFFICER , PATIALA

section 57.\nThe said provision reads thus:\n\"57. Deductions.-The income chargeable under the head 'Income from other\nsources' shall be computed after making the following deductions, namely :.\n(iv) in the case of income of the nature referred to in clause (viii) of sub-\nsection (2) of section 56, a deduction of a sum equal to fifty

SH. AMAR SINGH,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

3. Whether the profits or gains arising from the transfer of a 'capital asset' can be chargeable to income-tax if the transfer is effected in the previous year and if no amount is received? " The Hon'ble High Court answered the question in favour of the Revenue. While answering the question in favour of the Revenue

SH. JAI RAM,JAGADHARI vs. ITO, YAMUNANAGAR

In the result, both the appeal of different assessees are allowed

Bench: Shri Sanjay Garg & Dr. B.R.R. Kumar

3. Whether the profits or gains arising from the transfer of a 'capital asset' can be chargeable to income-tax if the transfer is effected in the previous year and if no amount is received? " The Hon'ble High Court answered the question in favour of the Revenue. While answering the question in favour of the Revenue

NARENDER KAUR,KURUKSHETRA, HARYANA vs. INCOME TAX OFFICER WARD-1 , KURUKSHETRA

3-6-2010\n[AS CORRECTED BY CORRIGENDUM NO.5/2010 [F.NO.142/13/2010-SO(TPL)],\nDATED 30-9-2010]\n46. Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation\n46.1 The existing provisions of Income-tax Act provide that income\nchargeable under the head \"Profits and gains of business or profession\" or\n\"Income from other sources

SH. AJIT SINGH,PINJORE vs. ITO, WARD-1, PANCHKULA

3-6-2010\n37\n[AS CORRECTED BY CORRIGENDUM NO.5/2010 [F.NO.142/13/2010-SO(TPL)],\nDATED 30-9-2010]\n46. Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation\n46.1 The existing provisions of Income-tax Act provide that income\nchargeable under the head \"Profits and gains of business or profession\" or\n\"Income from other

GURDEEP SINGH HUF,CHANDIGARH vs. ITO, WARD 5(5), CHANDIGARH

3-6-2010\n37\n[AS CORRECTED BY CORRIGENDUM NO.5/2010 [F.NO.142/13/2010-SO(TPL)],\nDATED 30-9-2010]\n46. Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation\n46.1 The existing provisions of Income-tax Act provide that income\nchargeable under the head \"Profits and gains of business or profession\" or\n\"Income from other

BALJIT SINGH,AMBALA CITY vs. INCOME TAX OFFICER, WARD-1, AMBALA, AMBALA

3-6-2010\n37\n[AS CORRECTED BY CORRIGENDUM NO.5/2010 [F.NO.142/13/2010-SO(TPL)],\nDATED 30-9-2010]\n46. Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation\n46.1 The existing provisions of Income-tax Act provide that income\nchargeable under the head \"Profits and gains of business or profession\" or\n\"Income from other

RANJEET SINGH KHUBBER,AMBALA vs. ITO, WARD 2, AMBALA

3-6-2010\n37\n[AS CORRECTED BY CORRIGENDUM NO.5/2010 [F.NO.142/13/2010-SO(TPL)],\nDATED 30-9-2010]\n46. Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation\n46.1 The existing provisions of Income-tax Act provide that income\nchargeable under the head \"Profits and gains of business or profession\" or\n\"Income from other

RAGHBIR SINGH HUF,CHANDIGARH vs. ITO-WARD-1(3), CHANDIGARH

3-6-2010\n37\n[AS CORRECTED BY CORRIGENDUM NO.5/2010 [F.NO.142/13/2010-SO(TPL)],\nDATED 30-9-2010]\n46. Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation\n46.1 The existing provisions of Income-tax Act provide that income\nchargeable under the head \"Profits and gains of business or profession\" or\n\"Income from other

BALVINDER SINGH,FATEHABAD vs. ITO WARD-1, FATEHABAD

3-6-2010\n[AS CORRECTED BY CORRIGENDUM NO.5/2010 [F.NO.142/13/2010-SO(TPL)],\nDATED 30-9-2010]\n46. Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation\n46.1 The existing provisions of Income-tax Act provide that income\nchargeable under the head \"Profits and gains of business or profession\" or\n\"Income from other sources

BISHAN CHAND,CHANDIGARH vs. INCOME TAX OFFICER, WARD 5 (5), CHANDIGARH, CHANDIGARH

3-6-2010\n46. Rationalizing the provisions for taxation of interest received on delayed\ncompensation or on enhanced compensation\n46.1 The existing provisions of Income-tax Act provide that income\nchargeable under the head \"Profits and gains of business or profession\" or\n\"Income from other sources\", shall be computed in accordance with either\ncash or mercantile system of accounting