https://www.taxtmi.com/caselaws?id=290002 Amounts paid as interest on compensation bonds issued under the Uttar Pradesh Zamindari Abolition and Land Reforms Act were held to be separate from the principal compensation. The statutory scheme created a distinct right to compensation from the date of vesting and a separate right to interest on deferred payment at a fixed rate. That interest represented return for delayed payment, not additional compensation or damages, and the statutory nomenclature was not decisive. The sums also fit the description of Government securities, and in any event were taxable as income from other sources if not interest on securities. They were therefore taxable and not exempt as compensation. en-us Thu, 18 May 1961 00:00:00 +0530 Thu, 03 Sep 2020 14:09:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290002 Amounts paid as interest on compensation bonds issued under the Uttar Pradesh Zamindari Abolition and Land Reforms Act were held to be separate from the principal compensation. The statutory scheme created a distinct right to compensation from the date of vesting and a separate right to interest on deferred payment at a fixed rate. That interest represented return for delayed payment, not additional compensation or damages, and the statutory nomenclature was not decisive. The sums also fit the description of Government securities, and in any event were taxable as income from other sources if not interest on securities. They were therefore taxable and not exempt as compensation. Case-Laws Income Tax Thu, 18 May 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290002