https://www.taxtmi.com/caselaws?id=278302 Interest received under section 28 of the Land Acquisition Act, 1894 on compensation or enhanced compensation falls within the deeming provision in section 56(2)(viii) of the Income-tax Act, 1961 and, read with section 145A(b), is taxable in the year of receipt. The exemption claim was untenable because the jurisdictional High Court supported assessment on receipt basis. The interest was therefore rightly treated as chargeable to tax in the year it was received. en-us Wed, 07 Jun 2017 00:00:00 +0530 Thu, 24 Jan 2019 07:20:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278302 Interest received under section 28 of the Land Acquisition Act, 1894 on compensation or enhanced compensation falls within the deeming provision in section 56(2)(viii) of the Income-tax Act, 1961 and, read with section 145A(b), is taxable in the year of receipt. The exemption claim was untenable because the jurisdictional High Court supported assessment on receipt basis. The interest was therefore rightly treated as chargeable to tax in the year it was received. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278302