https://www.taxtmi.com/caselaws?id=441161 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, not as a separate revenue receipt. Applying the settled view and the legislative scheme of sections 145A(b), 56(2) and 57(iv) of the Income-tax Act, 1961, the Tribunal held that such receipt retains the character of enhanced compensation where the underlying transfer otherwise qualifies. It therefore allowed exemption under section 10(37) and held the amount not taxable as income from other sources. en-us Fri, 07 Jul 2023 00:00:00 +0530 Thu, 03 Aug 2023 07:54:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441161 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, not as a separate revenue receipt. Applying the settled view and the legislative scheme of sections 145A(b), 56(2) and 57(iv) of the Income-tax Act, 1961, the Tribunal held that such receipt retains the character of enhanced compensation where the underlying transfer otherwise qualifies. It therefore allowed exemption under section 10(37) and held the amount not taxable as income from other sources. Case-Laws Income Tax Fri, 07 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441161