PUNEET SINGH Vs. COMMISSIONER OF INCOME TAX, KARNAL

JUDGEMENT

(1.) This order shall dispose of a bunch of three appeals bearing ITA Nos.132, 163 and 165 of 2018 as according to learned counsel for the parties, identical questions of law and facts are involved therein. For brevity, the facts are being extracted from ITA-132-2018.

(2.) ITA-132-2018 has been preferred by the assessee under Sec. 260A of the Income Tax Act, 1961 (in short "the Act") against the order dtd. 11/10/2017 (Annexure A-12) passed by the Income Tax Appellate Tribunal, Delhi 'SMC' Bench, New Delhi (hereinafter referred to as "the Tribunal") in ITA No. 1388/DEL/2017, for the assessment year 2010-11, claiming the following substantial questions of law:-

(3.) A few facts necessary for adjudication of the instant appeal as narrated therein may be noticed. Government of Haryana vide notifications dtd. 2/1/2002 issued under Ss. 4 and 6 of the Land Acquisition Act, 1894 (in short "the 1894 Act") acquired the land measuring 344.31 acres situated within the revenue estate of village Budha Khera, Hadbast No.1, Tehsil and District Karnal for the development and utilization of land as residential and commercial area for Sector 9 Part 32 and 33, Urban Estate, Karnal. The Land Acquisition Collector passed the award. Being aggrieved, the landowners filed references under Sec. 18 of the 1894 Act which were accepted with costs and compensation was enhanced vide award dtd. 11/8/2009. Form D dtd. 27/5/2010 and 30/3/2011 (Annexure P-1) were drawn by the Land Acquisition Officer. Form 16A dtd. 22/3/2010 (Annexure A-2) was issued by the Land Acquisition Officer for the interest of Rs.14,71,162.00 on which TDS of Rs.1,66,682.00 was deducted for the financial year ending 31/3/2010. The assessee filed his return of income on 31/7/2011 under Sec. 139(1) of the Act for an amount of Rs.4,11,477.00 qua income from salary and interest. The said return was processed under Sec. 143(1) of the Act on 26/5/2011. The assessee claimed refund of Rs.1,79,587.00 out of TDS deducted on compensation/ enhanced compensation of agricultural land acquired by the Government of Haryana. The Land Acquisition Officer, Panchkula vide letter dtd. 19/11/2014 verified the aforesaid amount of Rs.14,71,162.00 and deduction of TDS thereon. The Assessing Officer after having recorded the reasons on 7/4/2015 (Annexure A-3) for initiation of the reassessment proceedings, had issued notice under Sec. 148 of the Act. The appellants in all the three appeals filed CWP- 2605-2015 claiming refund and this Court vide order dtd. 1/7/2015 (Annexure A-4) disposed of the said writ petition with a direction to the respondent to complete the reassessment proceedings by 31/8/2015 and in the event of their remaining any refund, the same be paid within four weeks of the conclusion of the reassessment proceedings. The assessee filed objections to the notice issued under Sec. 148 of the Act which were rejected by the respondent vide letter dtd. 7/8/2015 (Annexure A-5). The assessee submitted written pleadings dtd. 6/8/2015 (Annexure A-6) before the Assessing Officer during the reassessment proceedings. The Assessing Officer vide assessment order dtd. 29/10/2015 (Annexure A-7) made addition of Rs.5,65,280.00 (50% of Rs.11,30,561.00) as 50% of the interest amount received on compensation was taxable in the year of receipt as per provisions of Sec. 56(2)(viii) read with Sec. 57(iv) of the Act and assessed the income of the assessee at Rs.9,76,760.00. Feeling aggrieved by the order, Annexure A-7, the assessee filed an appeal on 16/11/2015 (Annexure A-8) before the Commissioner of Income Tax (Appeals) [for brevity "the CIT(A)"]. The assessee furnished written submissions dtd. 15/12/2016 (Annexure A-9) before the CIT(A). The CIT(A) vide order dtd. 6/1/2017 (Annexure A-10) upheld the addition made by the Assessing Officer and dismissed the appeal. Still dissatisfied, the assessee filed an appeal on 10/2/2017 (Annexure A-11) before the Tribunal. The Tribunal vide order dtd. 11/10/2017 (Annexure A-12) dismissed the appeal upholding the order of the CIT(A). Hence, the present appeals by the assessee.