Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
Disciplinary Committee jurisdiction and mandatory investigation requirements invalidated cancellation of an insolvency professional's registration and...
Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
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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