Section 45(5)(a) — the law in short
What the courts have decided on section 45(5)(a), in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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Ranjeet Singh v ITO, Ward-1(1), Bathinda
ITATHelps taxpayer
My land was taken under the National Highways Act, the award was announced in 2014 but the money reached me in 2015. The Assessing Officer says s.96 of the RFCTLARR Act does not apply. Is he right?
The Tribunal held he was not, and deleted the addition. Where the award under s.3G of the National Highways Act, 1956 had been announced before 31 December 2014 but the compensation had not actually been paid by that date, the compensation falls to be paid in accordance with the First Schedule to the RFCTLARR Act, 2013, and is exempt under s.96 of that Act read with CBDT Circular No. 36/2016 dated 25 October 2016.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.
