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Documents citing The Commissioner Of Income Tax vs Sh. Bharat Lal Dagar (Huf) on 23 November, 2010

Sh. Harinder Singh, Ambala City vs Assessee on 8 November, 2011

Assessee had filed his income tax return in your office vide return receipt number 6331014296 dated 13.3.2008 declaring his gross total income Rs. 7,29,558.00 in which assessee has claimed exemption u/s 10(37) to the tune of Rs. 6,70,583.00 being enhanced compensation and balance Rs. 58,975.00 as interest income received on enhanced compensation relevant for assessment year 2007-08. Assessee has bifurcated the interest on yearly basis as per the case decided in Punjab and Haryana High Court in case of CIT v Hardwari Lal (HUF) and others as recorded in (2008) 219 CTR (P&H) 583.
Income Tax Appellate Tribunal - Chandigarh Cites 28 - Cited by 0 - Full Document

Bharat Hydro Power Corporation, ... vs Department Of Income Tax on 5 March, 2012

6. After hearing the rival submissions and on careful perusal of materials available on record and keeping in view of the fact the ld. CIT(A) has allowed the appeal of assessee based on the ratio laid down byHon'ble Punjab and Haryana High Court in the case of Income-tax v. Hardwari Lal, HUF 312 ITR 151 and further keeping in view of the fact that any disputed compensation can be brought to tax only when the assessee achieves a legally enforceable right in respect of the same. In this case the assessee has not gained the legal enforce. Since in this case it is clear that when an amount of compensation (enhanced or otherwise) is disputed before any Court the same is not assessable to tax till such dispute attains finality. The assessee might receive such compensation vide an interim order of the Court (subject to furnishing of securities) but the same shall not be taxable under the Act till a final order is passed by the Court. Since the matter is pending before the Court we are of the view that the ld. CIT(A) is not justified in considering the compensation awarded by the lower authorities in computing the taxable gain. Therefore we set aside the orders of the revenue authorities on this issue and direct the AO to delete the addition of Rs.30,38,71,474/-
Income Tax Appellate Tribunal - Kolkata Cites 11 - Cited by 0 - Full Document

Bharat Hydro Power Corporation Ltd., ... vs Assessee on 5 March, 2012

6. After hearing the rival submissions and on careful perusal of materials available on record and keeping in view of the fact the ld. CIT(A) has allowed the appeal of assessee based on the ratio laid down byHon'ble Punjab and Haryana High Court in the case of Income-tax v. Hardwari Lal, HUF 312 ITR 151 and further keeping in view of the fact that any disputed compensation can be brought to tax only when the assessee achieves a legally enforceable right in respect of the same. In this case the assessee has not gained the legal enforce. Since in this case it is clear that when an amount of compensation (enhanced or otherwise) is disputed before any Court the same is not assessable to tax till such dispute attains finality. The assessee might receive such compensation vide an interim order of the Court (subject to furnishing of securities) but the same shall not be taxable under the Act till a final order is passed by the Court. Since the matter is pending before the Court we are of the view that the ld. CIT(A) is not justified in considering the compensation awarded by the lower authorities in computing the taxable gain. Therefore we set aside the orders of the revenue authorities on this issue and direct the AO to delete the addition of Rs.30,38,71,474/-
Income Tax Appellate Tribunal - Kolkata Cites 11 - Cited by 0 - Full Document

Dcit, New Delhi vs M/S. Praveen Chand Khanna & Sons (Huf), ... on 25 June, 2018

After referring to the I.T.A. No.1165/Del/2016 & CO No.112/Del/2018 5 decision of Hon'ble Punjab & Haryana High Court in the case of CIT vs. Bharat, Lal Dagar (HUF), reported in 355 ITR 345 (P&H), wherein it was held that penalty u/s. 271(1)(c) was not sustainable on compensation amount which was not offered by the assessee as taxable on the ground of further proceedings. Here in this case also, assessee has not offered the amount of enhanced compensation as the award of LAC was disputed before the Hon'ble Delhi High Court which had stayed the operation of the award of LAC. Apart from that, there are various conflicting judgments of various High Courts on the issue of year of taxability of compensation and enhanced compensation. Thus, following ratio laid down by Hon'ble Punjab & Haryana High Court, he deleted the penalty.
Income Tax Appellate Tribunal - Delhi Cites 4 - Cited by 18 - Full Document

Sh. Rameshwar Giri, Chandigarh vs Department Of Income Tax on 19 October, 2012

In any case in the similar circumstances penalty was held not to be leviable by the Hon'ble Punjab & Haryana High Court in case of CIT V. Bharat Lal Dagar (HUF) (supra) because the issue was debatable. Therefore, in these circumstances, we are of the opinion that the ld. CIT(A) has correctly deleted the penalty and accordingly we confirm his order.
Income Tax Appellate Tribunal - Chandigarh Cites 5 - Cited by 0 - Full Document
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