https://www.taxtmi.com/caselaws?id=63282 Interest on delayed compensation for land acquisition may be treated as a capital receipt where possession was not lawfully taken in compliance with the mandatory urgency-acquisition conditions under the Land Acquisition Act, so the land did not validly vest in the Government and the payment related to deprivation of possession rather than ordinary taxable interest. The document also notes that reassessment under sections 147 and 148 can be sustained where all material facts were not fully and truly disclosed, and that refusal to admit additional evidence may be upheld where no sufficient ground exists to interfere with the appellate authority's discretion. en-us Sat, 13 Mar 2004 00:00:00 +0530 Fri, 28 Jan 2011 18:37:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63282 Interest on delayed compensation for land acquisition may be treated as a capital receipt where possession was not lawfully taken in compliance with the mandatory urgency-acquisition conditions under the Land Acquisition Act, so the land did not validly vest in the Government and the payment related to deprivation of possession rather than ordinary taxable interest. The document also notes that reassessment under sections 147 and 148 can be sustained where all material facts were not fully and truly disclosed, and that refusal to admit additional evidence may be upheld where no sufficient ground exists to interfere with the appellate authority's discretion. Case-Laws Income Tax Sat, 13 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63282