https://www.taxtmi.com/caselaws?id=393971 Interest received on compensation or enhanced compensation under the Land Acquisition Act is taxable as income from other sources after the 2010 amendments. Sections 56(2)(viii) and 57(iv) expressly place such interest under that head and allow only the specified deduction, while Section 10(37) governs exemption of capital gains on agricultural land but does not determine the tax treatment of interest. The earlier position in Ghanshyam (HUF) was held inapplicable because the statutory scheme changed, and the clear language of the amended provisions was given its ordinary meaning. Accordingly, the interest does not retain the character of compensation for capital gains purposes. en-us Wed, 19 Feb 2020 00:00:00 +0530 Tue, 21 Jul 2020 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393971 Interest received on compensation or enhanced compensation under the Land Acquisition Act is taxable as income from other sources after the 2010 amendments. Sections 56(2)(viii) and 57(iv) expressly place such interest under that head and allow only the specified deduction, while Section 10(37) governs exemption of capital gains on agricultural land but does not determine the tax treatment of interest. The earlier position in Ghanshyam (HUF) was held inapplicable because the statutory scheme changed, and the clear language of the amended provisions was given its ordinary meaning. Accordingly, the interest does not retain the character of compensation for capital gains purposes. Case-Laws Income Tax Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393971