https://www.taxtmi.com/caselaws?id=338810 Interest on enhanced compensation under Section 28 of the Land Acquisition Act, 1894 was treated as taxable in the year of receipt and as outside Section 45(5) of the Income-tax Act, 1961. Applying its earlier view, the HC held that such interest is not to be equated with compensation, even though interest on original compensation may form part of compensation. The amount was therefore brought to tax under Section 56 and not under the special capital gains regime for enhanced compensation. The issue was resolved in favour of the Revenue for the assessment year in question. en-us Thu, 04 Aug 2016 00:00:00 +0530 Sat, 11 Feb 2017 10:47:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338810 Interest on enhanced compensation under Section 28 of the Land Acquisition Act, 1894 was treated as taxable in the year of receipt and as outside Section 45(5) of the Income-tax Act, 1961. Applying its earlier view, the HC held that such interest is not to be equated with compensation, even though interest on original compensation may form part of compensation. The amount was therefore brought to tax under Section 56 and not under the special capital gains regime for enhanced compensation. The issue was resolved in favour of the Revenue for the assessment year in question. Case-Laws Income Tax Thu, 04 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338810