https://www.taxtmi.com/caselaws?id=433077 The Tribunal upheld the CIT(A)'s decision, ruling that interest on enhanced compensation is taxable under Section 56(2)(viii) of the Income Tax Act, 1961, following the jurisdictional High Court's binding precedent. The appeal was dismissed, citing the inapplicability of the exemption under Section 10(37) and the impact of subsequent amendments in the Act. The decision aligns with the interpretation of Section 145B and Section 56(2)(viii) post the Finance Act, 2010, emphasizing the taxable nature of such interest income. en-us Tue, 17 Jan 2023 00:00:00 +0530 Thu, 19 Jan 2023 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433077 The Tribunal upheld the CIT(A)'s decision, ruling that interest on enhanced compensation is taxable under Section 56(2)(viii) of the Income Tax Act, 1961, following the jurisdictional High Court's binding precedent. The appeal was dismissed, citing the inapplicability of the exemption under Section 10(37) and the impact of subsequent amendments in the Act. The decision aligns with the interpretation of Section 145B and Section 56(2)(viii) post the Finance Act, 2010, emphasizing the taxable nature of such interest income. Case-Laws Income Tax Tue, 17 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433077