https://www.taxtmi.com/caselaws?id=393971 The court held that interest received on compensation or enhanced compensation under Section 28 of the Land Acquisition Act, 1894 should be categorized as "Income from other sources" and not as "Capital gains." The amendments in 2010, specifically Sections 56(2)(viii) and 57(iv), altered the tax treatment, providing for a deduction of fifty percent under Section 57(iv). The court emphasized that the amended sections superseded previous interpretations, dismissing reliance on Circular No. 5 of 2010. The judgment affirmed the legislative intent and plain language of the amended provisions, resulting in the dismissal of the writ petition. 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 The court held that interest received on compensation or enhanced compensation under Section 28 of the Land Acquisition Act, 1894 should be categorized as "Income from other sources" and not as "Capital gains." The amendments in 2010, specifically Sections 56(2)(viii) and 57(iv), altered the tax treatment, providing for a deduction of fifty percent under Section 57(iv). The court emphasized that the amended sections superseded previous interpretations, dismissing reliance on Circular No. 5 of 2010. The judgment affirmed the legislative intent and plain language of the amended provisions, resulting in the dismissal of the writ petition. Case-Laws Income Tax Wed, 19 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393971