https://www.taxtmi.com/caselaws?id=399382 Interest received under section 28 of the Land Acquisition Act is taxable as income from other sources under section 56(2)(viii), read with section 145B(1), and the later statutory scheme with binding jurisdictional precedent prevails over contrary earlier authority, so the addition on this issue was sustained. The long-term capital gain addition on acquisition of land was not finally decided because the identity and character of the acquired land remained disputed; as the additional material had not been examined by the lower authorities, the matter was remitted to the Assessing Officer for fresh adjudication on whether the land was agricultural or a capital asset. en-us Mon, 05 Oct 2020 00:00:00 +0530 Fri, 09 Oct 2020 14:31:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399382 Interest received under section 28 of the Land Acquisition Act is taxable as income from other sources under section 56(2)(viii), read with section 145B(1), and the later statutory scheme with binding jurisdictional precedent prevails over contrary earlier authority, so the addition on this issue was sustained. The long-term capital gain addition on acquisition of land was not finally decided because the identity and character of the acquired land remained disputed; as the additional material had not been examined by the lower authorities, the matter was remitted to the Assessing Officer for fresh adjudication on whether the land was agricultural or a capital asset. Case-Laws Income Tax Mon, 05 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399382