https://www.taxtmi.com/caselaws?id=756783 Interest awarded under section 28 of the Land Acquisition Act on enhanced compensation was treated as an accretion to the value of the acquired land and, therefore, part of the compensation itself. The distinction drawn from section 34 interest remained material: section 34 interest compensates for delay in payment, while section 28 interest follows the enhanced value awarded for the land. The deeming provisions in section 145A(b) and section 56(2)(viii) of the Income-tax Act did not change the inherent character of section 28 interest, so it was not taxable as separate interest income. en-us Wed, 08 Feb 2023 00:00:00 +0530 Mon, 12 Aug 2024 17:57:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756783 Interest awarded under section 28 of the Land Acquisition Act on enhanced compensation was treated as an accretion to the value of the acquired land and, therefore, part of the compensation itself. The distinction drawn from section 34 interest remained material: section 34 interest compensates for delay in payment, while section 28 interest follows the enhanced value awarded for the land. The deeming provisions in section 145A(b) and section 56(2)(viii) of the Income-tax Act did not change the inherent character of section 28 interest, so it was not taxable as separate interest income. Case-Laws Income Tax Wed, 08 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756783