https://www.taxtmi.com/caselaws?id=283910 Interest received under section 28 of the Land Acquisition Act, 1894 on enhanced compensation was treated as inseparable from the compensation itself and, if taxable at all, as compensation for income-tax purposes. Where the acquired asset was agricultural land, the exemption under section 10(37) of the Income-tax Act, 1961 was considered applicable to the receipt, subject to verification of the factual character of the land. The factual nature of the land was therefore material, and on those facts the assessees were granted relief and the amount was held not taxable. en-us Wed, 14 Aug 2019 00:00:00 +0530 Sun, 20 Oct 2019 15:06:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283910 Interest received under section 28 of the Land Acquisition Act, 1894 on enhanced compensation was treated as inseparable from the compensation itself and, if taxable at all, as compensation for income-tax purposes. Where the acquired asset was agricultural land, the exemption under section 10(37) of the Income-tax Act, 1961 was considered applicable to the receipt, subject to verification of the factual character of the land. The factual nature of the land was therefore material, and on those facts the assessees were granted relief and the amount was held not taxable. Case-Laws Income Tax Wed, 14 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283910