https://www.taxtmi.com/caselaws?id=275256 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for acquired agricultural land was treated as an accretion to compensation, not as independent interest income. Because the statutory conditions for exemption under section 10(37) of the Income-tax Act, 1961 were satisfied, the amount retained the character of compensation and was not taxable under section 56(2)(viii) read with section 145A(b) and section 57(iv). The revenue appeals therefore failed and the exemption granted by the appellate authority was sustained. en-us Fri, 01 Jun 2018 00:00:00 +0530 Tue, 25 Sep 2018 08:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275256 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for acquired agricultural land was treated as an accretion to compensation, not as independent interest income. Because the statutory conditions for exemption under section 10(37) of the Income-tax Act, 1961 were satisfied, the amount retained the character of compensation and was not taxable under section 56(2)(viii) read with section 145A(b) and section 57(iv). The revenue appeals therefore failed and the exemption granted by the appellate authority was sustained. Case-Laws Income Tax Fri, 01 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275256