https://www.taxtmi.com/caselaws?id=67707 Interest awarded under the Land Acquisition Act for the period between pre-award possession by the Government and later statutory regularisation is treated as compensation for deprivation of property, because the payment substitutes for the owner's lost possession rather than for the use of compensation money after vesting. By contrast, interest payable after vesting and withholding of compensation is revenue in character under the statutory scheme. On that reasoning, the interest in question was characterised as a capital receipt and treated as not taxable, with the corresponding addition deleted. en-us Thu, 24 Aug 1978 00:00:00 +0530 Mon, 14 Mar 2011 11:22:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67707 Interest awarded under the Land Acquisition Act for the period between pre-award possession by the Government and later statutory regularisation is treated as compensation for deprivation of property, because the payment substitutes for the owner's lost possession rather than for the use of compensation money after vesting. By contrast, interest payable after vesting and withholding of compensation is revenue in character under the statutory scheme. On that reasoning, the interest in question was characterised as a capital receipt and treated as not taxable, with the corresponding addition deleted. Case-Laws Income Tax Thu, 24 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67707