https://www.taxtmi.com/caselaws?id=395248 Interest awarded under section 28 of the Land Acquisition Act, 1894, is treated as an accretion to enhanced compensation and not as ordinary interest income. On that characterisation, it falls outside section 56(2)(viii) of the Income-tax Act, 1961, and section 145A(b) does not alter its treatment as compensation. For compulsory acquisition of agricultural land, the receipt is therefore eligible for exemption under section 10(37) of the Income-tax Act, 1961, because the section 28 amount partakes of the nature of enhanced compensation rather than income from other sources. en-us Fri, 03 Jan 2020 00:00:00 +0530 Tue, 12 May 2020 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395248 Interest awarded under section 28 of the Land Acquisition Act, 1894, is treated as an accretion to enhanced compensation and not as ordinary interest income. On that characterisation, it falls outside section 56(2)(viii) of the Income-tax Act, 1961, and section 145A(b) does not alter its treatment as compensation. For compulsory acquisition of agricultural land, the receipt is therefore eligible for exemption under section 10(37) of the Income-tax Act, 1961, because the section 28 amount partakes of the nature of enhanced compensation rather than income from other sources. Case-Laws Income Tax Fri, 03 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395248