https://www.taxtmi.com/caselaws?id=419607 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation is treated as an accretion to the compensation itself, not as separate interest income. On that basis, it is not taxable under the head income from other sources under section 56 of the Income-tax Act, 1961. The Tribunal also applied the settled position that such receipt is to be considered on receipt basis. The addition treating the amount as taxable interest was deleted. en-us Thu, 24 Feb 2022 00:00:00 +0530 Tue, 15 Mar 2022 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419607 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation is treated as an accretion to the compensation itself, not as separate interest income. On that basis, it is not taxable under the head income from other sources under section 56 of the Income-tax Act, 1961. The Tribunal also applied the settled position that such receipt is to be considered on receipt basis. The addition treating the amount as taxable interest was deleted. Case-Laws Income Tax Thu, 24 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419607