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INCOME TAX APPELLATE TRIBUNAL (AMRITSAR BENCH)
DIPAK P. RIPOTE, Accountant Member, Udayan Dasgupta, J
Harpal Singh – Appellant
Versus
Income Tax Officer – Respondent
| Table of Content |
|---|
| 1. facts of land acquisition compensation and denial of exemption by ao/cit(a). (Para 2 , 3 , 4 , 5 , 6 , 7 , 8) |
| 2. parties' arguments on cbdt circulars and applicability of s.96 exemption. (Para 9 , 10 , 11 , 12 , 13) |
| 3. review of govt. order extending rfctlarr provisions to fourth schedule enactments. (Para 14 , 15 , 16 , 17 , 18) |
| 4. high court/itat precedents affirming tax exemption for nhai acquisitions. (Para 19 , 20 , 21 , 22 , 23 , 24) |
| 5. compensation exempt u/s 96; appeal partly allowed. (Para 25 , 26 , 27) |
ORDER
Per Udayan Dasgupta, J.M.:
This appeal is filed by the assessee against the order of the ld. Addl./JCIT (A) Mysore, dated 28.02.2024 passed u/s 250 of the Income Tax Act, 1961 (henceforth the Act) which has emanated from the order of the ITO, Ward-2(1), Bathinda dated 08.12.2018 passed u/s 143(3) of the Act.
2. The ld. DR filed an application for adjournment of hearing on the grounds of complexity of issues involved and citing heavy work load, which we consider not to be sufficient reasons for adjournment and as such, the same is rejected and we proceed to dispose of the appeal on merits of the case after hearing both the parties and considering the materia
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