https://www.taxtmi.com/caselaws?id=296138 Amounts awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for acquisition of eligible agricultural land are treated as part of the compensation itself and retain the character of a capital receipt. The analysis notes that, although section 145A(b) and section 56(2) bring interest on compensation or enhanced compensation to tax on receipt basis under income from other sources, this does not apply where the section 28 amount is integral to compensation within section 10(37) of the Income-tax Act, 1961. The result is that such receipt is exempt and not taxable in the recipient's hands. en-us Wed, 02 Dec 2020 00:00:00 +0530 Tue, 06 Jul 2021 09:42:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296138 Amounts awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for acquisition of eligible agricultural land are treated as part of the compensation itself and retain the character of a capital receipt. The analysis notes that, although section 145A(b) and section 56(2) bring interest on compensation or enhanced compensation to tax on receipt basis under income from other sources, this does not apply where the section 28 amount is integral to compensation within section 10(37) of the Income-tax Act, 1961. The result is that such receipt is exempt and not taxable in the recipient's hands. Case-Laws Income Tax Wed, 02 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296138