Interest on delayed land compensation is not a deposit interest claim and can be adjusted at the return-processing stage.

Interest on delayed compensation for acquired land was treated as compensatory receipt, not interest on a voluntary deposit, so it did not fall within the scope of section 80L. The disallowance could be made as a prima facie adjustment under section 143(1)(a) because the claim was inadmissible on the face of the return. No rectification was available under section 154 in the absence of any mistake apparent from the record. The article therefore states that the deduction was unavailable, the summary adjustment was valid, and rectification was correctly refused.

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Issues: Whether interest received on delayed payment of compensation for acquired land was eligible for deduction under section 80L, and whether disallowance of such deduction could validly be made as a prima facie adjustment under section 143(1)(a) with no rectifiable mistake under section 154.

Analysis: The exemption under section 80L was held to apply to interest on deposits with specified authorities, and the expression "deposit" was construed as a voluntary placement of money to earn interest. Interest paid on delayed compensation under section 34 of the Land Acquisition Act was treated as compensatory in nature, not as interest on a deposit, and therefore outside the scope of section 80L. Since the claim was inadmissible on the face of the return, its disallowance could be made while making prima facie adjustment under section 143(1)(a). In the absence of any mistake apparent from the record, no relief could be granted by way of rectification under section 154.

Conclusion: The deduction under section 80L was not available on interest received for delayed compensation, the adjustment under section 143(1)(a) was valid, and the rectification application under section 154 was rightly rejected.

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