https://www.taxtmi.com/caselaws?id=278301 Interest received on compensation or enhanced compensation under section 28 of the Land Acquisition Act was treated as taxable income in the year of receipt. Applying the amended scheme of section 56(2)(viii), read with section 145A(b), the ITAT Delhi held that such interest is deemed to accrue in the year it is actually received. Following the jurisdictional High Court decision in Manjeet Singh (HUF), the addition made by the Assessing Officer was upheld and the interest was sustained as chargeable to tax on receipt. 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=278301 Interest received on compensation or enhanced compensation under section 28 of the Land Acquisition Act was treated as taxable income in the year of receipt. Applying the amended scheme of section 56(2)(viii), read with section 145A(b), the ITAT Delhi held that such interest is deemed to accrue in the year it is actually received. Following the jurisdictional High Court decision in Manjeet Singh (HUF), the addition made by the Assessing Officer was upheld and the interest was sustained as chargeable to tax on receipt. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278301