K M SHARMA Vs. INCOME TAX OFFICER WARD 137 NEW DELHI
LAWS(SC)-2002-4-3
SUPREME COURT OF INDIA (FROM: DELHI)
Decided on
April 11,2002
K.M.SHARMA
Appellant
VERSUS
INCOME TAX OFFICER, WARD 13(7), NEW DELHI
Respondents
Cited Judgements :-
COMMISSIONER OF INCOME TAX VS. VELLORE ELECTRIC CORPORATION LTD. [LAWS(MAD)-2006-1-231] [REFERRED TO]SUDHIR KAPOOR VS. INCOME TAX OFFICER AND ORS. [LAWS(P&H)-2015-4-45] [REFERRED TO]
HOTEL RESIDENCY PLACE VS. STATE OF RAJASTHAN [LAWS(RAJ)-2005-5-23] [REFERRED TO]
COMMISSIONER OF INCOME TAX VS. RAMESH CHAND SONI [LAWS(RAJ)-2004-9-62] [REFERRED TO]
INTEC CORPORATION VS. ASSTT. COMMISSIONER OF INCOME TAX CIRCLE 31(1) [LAWS(DLH)-2019-12-116] [REFERRED TO]
STATE OF U P & ANOTHER VS. JHINKAN CHAUDHARY & ANOTHER [LAWS(ALL)-2016-5-422] [REFERRED]
TATA TELESERVICES VS. UNION OF INDIA AND ORS. [LAWS(GJH)-2016-2-87] [REFERRED TO]
NATIONAL AGRICULTURAL CO OPERATIVE MARKETING FEDERATION OF INDIA LIMITED VS. UNION OF INDIA [LAWS(SC)-2003-3-24] [REFERRED]
ASHWANI DHINGRA VS. CHIEF CIT [LAWS(ALL)-2003-10-218] [REFERRED TO]
VARKEY JACOB VS. COMMISSIONER OF INCOME TAX [LAWS(KER)-2004-11-27] [REFERRED TO]
BRAHM DATT VS. ASSISTANT COMMISSIONER OF INCOME -TAX & ORS [LAWS(DLH)-2018-12-58] [REFERRED TO]
COMMISSIONER OF INCOME TAX VS. ZAM ZAM TANNERS [LAWS(ALL)-2005-7-186] [REFERRED TO]
ASHWANI DHINGRA VS. CHIEF COMMISSIONER OF INCOME TAX [LAWS(ALL)-2004-8-210] [REFERRED TO]
CIFTECH SOLUTIONS PVT. LTD. AND ORS. VS. STATE OF KARNATAKA AND ORS. [LAWS(KAR)-2015-8-214] [REFERRED TO]
Indital Constructions Machinery LTD VS. Deputy Commissioner of Commercial Taxes [LAWS(KAR)-2004-8-14] [REFERRED TO]
COMMISSIONER OF INCOME TAX VS. ADITYA CHEMICALS LTD. [LAWS(DLH)-2005-7-135] [REFERRED TO]
AMRIT BANASPATI COMPANY LIMITED VS. STATE OF PUNJAB AND OTHERS [LAWS(P&H)-2015-8-379] [REFERRED TO]
BHARAT PETROLEUM CORPORATION LTD. VS. STATE OF PUNJAB AND ANR. [LAWS(P&H)-2009-7-213] [REFERRED TO]
GHAZIABAD DEVELOPMENT AUTHORITY VS. COMMISSIONER OF INCOME TAX [LAWS(ALL)-2011-7-240] [REFERRED TO]
COMMISSIONER OF INCOME TAX VS. PAWAN GUPTA [LAWS(DLH)-2009-4-314] [REFERRED TO]
COMMISSIONER OF INCOME TAX VS. PAWAN GUPTA [LAWS(DLH)-2009-4-314] [REFERRED TO]
SONAL APPAREL PRIVATE LIMITED AND ORS. VS. THE STATE OF KARNATAKA AND ORS. [LAWS(KAR)-2016-3-172] [REFERRED TO]
VILLA NAGA LAKSHMI VS. MUTTA SRINIVASA RAO [LAWS(APH)-2006-10-10] [REFERRED TO]
N.ILLAMATHY VS. INCOME TAX OFFICER, WARD II(2), ERODE [LAWS(MAD)-2020-9-366] [REFERRED TO]
VLS FINACNE LTD. & ANR VS. COMMISSIONER OF INCOME TAX & ANR [LAWS(SC)-2016-4-37] [REFERRED TO]
RELIANCE INDUSTRIES LTD. VS. STATE OF GUJARAT [LAWS(DLH)-2020-4-7] [REFERRED TO]
COMMISSIONER OF INCOME TAX VS. A K KHOSLA [LAWS(MAD)-2010-4-606] [REFERRED TO]
TAMIL NADU TRADERS ERODE VS. JOINT COMMISSIONER SMR OFFICE OF THE SPECIAL COMMISSIONER AND COMMISSIONER OF COMMERCIAL TAXES CHENNAI [LAWS(MAD)-2011-12-145] [REFERRED TO]
RAINBOW COLOUR LAB VS. STATE OF KARNATAKA [LAWS(KAR)-2023-2-294] [REFERRED TO]
JUDGEMENT
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(1.)In this appeal, which is filed after obtaining special leave, the Order dated 24th May, 1996 of the High Court of Delhi has been assailed. The main question involved is on the application and interpretation of the provisions of Section 150 of the Income-tax Act, 1961 (hereinafter referred to as the Act).
The relevant facts necessary for deciding the legal question raised are as under :-
1. The appellant's lands were acquired under Section 6 of the Land Acquisition Act and an award was passed on 2-12-1967 by the Chief Commissioner of Delhi granting compensation in favour of the appellant. The Additional District Judge by Judgment dated 20-5-1980 held the appellant entitled to 1/32 share of the compensation awarded under various awards and the appellant was granted total compensation in the sum of Rs.1,18,810/- approximately in the year 1981.
(2.)On a reference under Section 18 of the Land Acquisition Act, the learned Additional District Judge, Delhi vide his Judgment dated 31-7-1991 awarded a sum of Rs. 1,10,20,624/-. The amount was paid to the appellant between 15-10-1992 and 26-5-1993. The amounts paid represented principal sum of compensation of Rs. 41,96,496/- and interest in the sum of Rs. 76,84,829/- up to 18-5-1992. Before making the above payments, tax was deducted at source amounting to Rs. 8,60,701/-.
(3.)Since the land acquired were agricultural lands and were acquired prior to 1-4-1970, capital gains tax was not leviable but tax was leviable on interest earned on the amount awarded on year to year basis.
The relevant facts necessary for deciding the legal question raised are as under :-
1. The appellant's lands were acquired under Section 6 of the Land Acquisition Act and an award was passed on 2-12-1967 by the Chief Commissioner of Delhi granting compensation in favour of the appellant. The Additional District Judge by Judgment dated 20-5-1980 held the appellant entitled to 1/32 share of the compensation awarded under various awards and the appellant was granted total compensation in the sum of Rs.1,18,810/- approximately in the year 1981.
(2.)On a reference under Section 18 of the Land Acquisition Act, the learned Additional District Judge, Delhi vide his Judgment dated 31-7-1991 awarded a sum of Rs. 1,10,20,624/-. The amount was paid to the appellant between 15-10-1992 and 26-5-1993. The amounts paid represented principal sum of compensation of Rs. 41,96,496/- and interest in the sum of Rs. 76,84,829/- up to 18-5-1992. Before making the above payments, tax was deducted at source amounting to Rs. 8,60,701/-.
(3.)Since the land acquired were agricultural lands and were acquired prior to 1-4-1970, capital gains tax was not leviable but tax was leviable on interest earned on the amount awarded on year to year basis.
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