https://www.taxtmi.com/caselaws?id=377819 The ITAT Chandigarh Benches allowed the appeal of the assessee, holding that interest received under section 28 of the Land Acquisition Act, 1894 is in the nature of compensation and not taxable as 'income from other sources'. The ITAT relied on legal precedents, including a decision by the Apex Court, to set aside the Principal Commissioner's order under section 263 of the Income Tax Act, 1961. The appeal was allowed based on established legal principles, aligning with previous decisions favoring the assessee in similar cases. en-us Fri, 18 Jan 2019 00:00:00 +0530 Wed, 03 Apr 2019 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377819 The ITAT Chandigarh Benches allowed the appeal of the assessee, holding that interest received under section 28 of the Land Acquisition Act, 1894 is in the nature of compensation and not taxable as 'income from other sources'. The ITAT relied on legal precedents, including a decision by the Apex Court, to set aside the Principal Commissioner's order under section 263 of the Income Tax Act, 1961. The appeal was allowed based on established legal principles, aligning with previous decisions favoring the assessee in similar cases. Case-Laws Income Tax Fri, 18 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377819