https://www.taxtmi.com/caselaws?id=403779 Interest received for delayed payment of compensation under the RFCTLARR Act, 2013 was treated as part of the exempt compensation package rather than taxable income from other sources. The analysis relied on section 96 of the RFCTLARR Act, which exempts awards or agreements from income tax except under section 46, and on the Act's definition of compensation as including interest on delayed payment. A CBDT circular was also noted as confirming that compensation exempt under section 96 is not taxable under the Income-tax Act, 1961. On that basis, the addition under section 56(2)(viii) was deleted and the earlier pre-2014 view was held inapplicable. en-us Thu, 28 Jan 2021 00:00:00 +0530 Mon, 08 Feb 2021 14:41:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403779 Interest received for delayed payment of compensation under the RFCTLARR Act, 2013 was treated as part of the exempt compensation package rather than taxable income from other sources. The analysis relied on section 96 of the RFCTLARR Act, which exempts awards or agreements from income tax except under section 46, and on the Act's definition of compensation as including interest on delayed payment. A CBDT circular was also noted as confirming that compensation exempt under section 96 is not taxable under the Income-tax Act, 1961. On that basis, the addition under section 56(2)(viii) was deleted and the earlier pre-2014 view was held inapplicable. Case-Laws Income Tax Thu, 28 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403779