https://www.taxtmi.com/caselaws?id=302108 The High Court of Himachal Pradesh clarified that interest granted to a landowner under Section 28 of the Land Acquisition Act, 1894, for tax purposes is considered part of compensation and not separate interest. The Court emphasized that this interest is taxable in the year of receipt along with the enhanced compensation. Referring to a Supreme Court judgment, the Court ruled that interest under Section 28 is to be treated as part of compensation itself, distinct from interest under Section 34 for delayed payment. Consequently, the appeal was disposed of in accordance with the Supreme Court's decision, directing the Assessing Officer to proceed accordingly without costs awarded. en-us Wed, 03 Oct 2012 00:00:00 +0530 Thu, 05 May 2022 12:37:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302108 The High Court of Himachal Pradesh clarified that interest granted to a landowner under Section 28 of the Land Acquisition Act, 1894, for tax purposes is considered part of compensation and not separate interest. The Court emphasized that this interest is taxable in the year of receipt along with the enhanced compensation. Referring to a Supreme Court judgment, the Court ruled that interest under Section 28 is to be treated as part of compensation itself, distinct from interest under Section 34 for delayed payment. Consequently, the appeal was disposed of in accordance with the Supreme Court's decision, directing the Assessing Officer to proceed accordingly without costs awarded. Case-Laws Income Tax Wed, 03 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302108