https://www.taxtmi.com/caselaws?id=383237 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land was treated as part of the compensation, not as a separate taxable receipt. Because the Assessing Officer had applied his mind to the nature of the receipt and accepted that it was not taxable separately, the assessment could not be branded erroneous or prejudicial merely because the Commissioner took a different view. On that basis, invocation of revisionary jurisdiction under section 263 of the Income-tax Act, 1961 was held to be unjustified and the revision was unsustainable. en-us Wed, 17 Jul 2019 00:00:00 +0530 Sat, 14 Sep 2019 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383237 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land was treated as part of the compensation, not as a separate taxable receipt. Because the Assessing Officer had applied his mind to the nature of the receipt and accepted that it was not taxable separately, the assessment could not be branded erroneous or prejudicial merely because the Commissioner took a different view. On that basis, invocation of revisionary jurisdiction under section 263 of the Income-tax Act, 1961 was held to be unjustified and the revision was unsustainable. Case-Laws Income Tax Wed, 17 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383237