https://www.taxtmi.com/caselaws?id=424836 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land was treated as part of the compensation itself, not as a separate interest receipt. Applying the distinction between section 28 and section 34 interest, the analysis noted that section 34 compensates delay in payment, while section 28 attaches to the excess amount awarded on reference and partakes of the character of enhanced compensation. On that basis, such receipt was held not to be separately taxable as income from other sources under section 56(2)(viii), and the exemption framework for compulsory acquisition of agricultural land remained applicable. en-us Wed, 06 Jul 2022 00:00:00 +0530 Fri, 08 Jul 2022 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424836 Interest awarded under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land was treated as part of the compensation itself, not as a separate interest receipt. Applying the distinction between section 28 and section 34 interest, the analysis noted that section 34 compensates delay in payment, while section 28 attaches to the excess amount awarded on reference and partakes of the character of enhanced compensation. On that basis, such receipt was held not to be separately taxable as income from other sources under section 56(2)(viii), and the exemption framework for compulsory acquisition of agricultural land remained applicable. Case-Laws Income Tax Wed, 06 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424836