https://www.taxtmi.com/caselaws?id=388852 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land partakes the character of compensation where the land otherwise satisfies the conditions for exemption. On that basis, the receipt is not taxed as interest income from other sources under section 56(2)(viii) read with section 145A(b), and exemption under section 10(37) applies. The Tribunal treated the section 28 amount as an accretion to compensation rather than ordinary interest, with the result that the assessment addition on this component was deleted in favour of the assessee. en-us Fri, 22 Nov 2019 00:00:00 +0530 Mon, 25 Nov 2019 10:28:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388852 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land partakes the character of compensation where the land otherwise satisfies the conditions for exemption. On that basis, the receipt is not taxed as interest income from other sources under section 56(2)(viii) read with section 145A(b), and exemption under section 10(37) applies. The Tribunal treated the section 28 amount as an accretion to compensation rather than ordinary interest, with the result that the assessment addition on this component was deleted in favour of the assessee. Case-Laws Income Tax Fri, 22 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388852