Infrastructure-development deduction remains available to EPC contractors when substantive statutory conditions outweigh contractor labels in agreemen...
Explained Investment Sources: documented gifts and traceable salary savings supported deletion of additions for property and mutual-fund SIP investmen...
Internal comparable pricing supports arm's-length interest on compulsorily convertible debentures, preventing their recharacterisation as equity for t...
Nominee director protection shields independent financial-institution appointees from criminal liability where they lack involvement in deposit defaul...
Characterization of interest received u/s 28 of the Land Acquisition Act, 1894, as part of enhanced compensation for compulsory acquisition of agricultural land. The key points are: whether the interest is a revenue receipt chargeable as income from other sources or an integral part of exempt compensation u/s 10(37). The Punjab & Haryana High Court held that such interest is taxable income from other sources. The Delhi High Court observed that enhanced compensation and interest thereon are income from other sources, considering the Finance (No. 2) Act, 2010 and the Ghanshyam Das (HUF) judgment. The ITAT dismissed the assessee's appeal, concluding that interest on compensation or enhanced compensation is taxable income from other sources u/s 56(2)(viii).
Characterization of interest received u/s 28 of the Land Acquisition Act, 1894, as part of enhanced compensation for compulsory acquisition of agricultural land. The key points are: whether the interest is a revenue receipt chargeable as income from other sources or an integral part of exempt compensation u/s 10(37). The Punjab & Haryana High Court held that such interest is taxable income from other sources. The Delhi High Court observed that enhanced compensation and interest thereon are income from other sources, considering the Finance (No. 2) Act, 2010 and the Ghanshyam Das (HUF) judgment. The ITAT dismissed the assessee's appeal, concluding that interest on compensation or enhanced compensation is taxable income from other sources u/s 56(2)(viii).
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