https://www.taxtmi.com/caselaws?id=430777 Interest received on compensation or enhanced compensation under section 28 of the Land Acquisition Act was treated as taxable under the Income-tax Act, 1961. The Tribunal applied section 56(2)(viii) read with section 145B(1), which deems such interest to be income in the year of receipt, and followed the jurisdictional High Court view that interest under section 28 is chargeable to tax. The contrary reliance on earlier authorities did not displace that binding position for the assessment year in question. The issue was decided against the assessee, and the impugned interest was held taxable. en-us Wed, 23 Nov 2022 00:00:00 +0530 Sat, 26 Nov 2022 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430777 Interest received on compensation or enhanced compensation under section 28 of the Land Acquisition Act was treated as taxable under the Income-tax Act, 1961. The Tribunal applied section 56(2)(viii) read with section 145B(1), which deems such interest to be income in the year of receipt, and followed the jurisdictional High Court view that interest under section 28 is chargeable to tax. The contrary reliance on earlier authorities did not displace that binding position for the assessment year in question. The issue was decided against the assessee, and the impugned interest was held taxable. Case-Laws Income Tax Wed, 23 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430777