https://www.taxtmi.com/caselaws?id=457067 Interest received under section 28 of the Land Acquisition Act, 1894 on enhanced compensation is taxable under section 56(2)(viii) of the Income-tax Act, 1961 where the receipt arose before the 2013 land acquisition law came into force; the exemption in section 96 of that later Act does not apply retrospectively to such receipts. The Tribunal also rejected objections to reassessment, holding that the factual sequence of return processing and subsequent reassessment, together with binding jurisdictional precedent, did not justify interference on the ground of initiation or absence of notice under section 143(2). en-us Fri, 18 Aug 2023 00:00:00 +0530 Wed, 04 Sep 2024 20:04:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457067 Interest received under section 28 of the Land Acquisition Act, 1894 on enhanced compensation is taxable under section 56(2)(viii) of the Income-tax Act, 1961 where the receipt arose before the 2013 land acquisition law came into force; the exemption in section 96 of that later Act does not apply retrospectively to such receipts. The Tribunal also rejected objections to reassessment, holding that the factual sequence of return processing and subsequent reassessment, together with binding jurisdictional precedent, did not justify interference on the ground of initiation or absence of notice under section 143(2). Case-Laws Income Tax Fri, 18 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457067