Deputy Commissioner Of Income Tax, ... vs Zari Silk (India) Pvt. Ltd. , Narayan ... on 9 January
23rd Feb., 1993,
passed an order for compulsory purchase of the suit land for a net
:- 13 -: ITA No.1602/Chny/2018
Mr.Mohan Alagappan ... Appropriate
Authority thus passed an order for compulsory purchase of the suit
land for a net consideration of Rs. 13,25,343 payable
grant the FC by
imposing stringent conditions like Compulsory
Afforestation (CF), compensation for Net Present Value
(NPV), Catchment Area Treatment (CAT) Plan,
minimum number
that to the extent of interest not derived
from compulsory deposits would stand disallowed after netting of the
expenses/ interest expenses against such interest income
that to the extent of interest not derived
from compulsory deposits would stand disallowed after netting of the
expenses/ interest expenses against such interest income
therefore, no applicability to the compulsory deposit. Section 7A excluded the compulsory deposit from the net of wealth-tax to a limited extent ... extended to compulsory deposit, the exemption available to the deposits with a bank went to show that earlier no exemption to compulsory deposit was available
prescribed in accordance with the Goa Sales Tax Deferment-
cum-Net Present Value Compulsory Payment Scheme, 2003 to offer
option of retaining tax so accumulated ... time subject to surrendering of 25% thereof, deemed as
'net present value (NPV)' of the amount otherwise payable on the
deferred date, were
attached ).
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SBI SMS Delivery report ... attached). SBI EMAIL updation approved procedure (Attached) - OTP is compulsory
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report
submission of the assessee that
only 25% of the net profit has been compulsory deposited in the co-operative banks as
the Mandate
offered the surplus (net)
of Rs.80,23,548/- on the compulsory acquisition of the same as its
8
Greenone Construction and Development Private Limited ... income, it transpires that it had accounted for the surplus (net)
arising/accruing on compulsory acquisition of its lands by NHAI as its
revenue from