https://www.taxtmi.com/caselaws?id=306595 An amount described in a land acquisition award as "interest" was treated as enhanced compensation because the competent authority clarified that the label was used inadvertently and the payment was intended as additional compensation under the Land Acquisition Act. The tax character of the payment was determined by its substance, not by the mistaken nomenclature in the award. As the amount formed part of the compensation mechanism for acquisition of agricultural land, it was not interest for delay in payment within section 194A of the Income-tax Act and was not subject to tax deduction at source. The Revenue's challenge failed and the Commissioner (Appeals) was upheld. en-us Thu, 30 Jun 2016 00:00:00 +0530 Sat, 11 Feb 2023 09:42:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306595 An amount described in a land acquisition award as "interest" was treated as enhanced compensation because the competent authority clarified that the label was used inadvertently and the payment was intended as additional compensation under the Land Acquisition Act. The tax character of the payment was determined by its substance, not by the mistaken nomenclature in the award. As the amount formed part of the compensation mechanism for acquisition of agricultural land, it was not interest for delay in payment within section 194A of the Income-tax Act and was not subject to tax deduction at source. The Revenue's challenge failed and the Commissioner (Appeals) was upheld. Case-Laws Income Tax Thu, 30 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306595