https://www.taxtmi.com/caselaws?id=759762 Interest awarded under Section 28 of the Land Acquisition Act, 1894 on enhanced compensation for acquisition of agricultural land is treated as an accretion to the compensation itself, not as taxable interest from other sources. On that basis, Section 56(2)(viii) read with Section 145A(b) of the Income-tax Act, 1961 does not apply to tax such receipt separately, and the amount follows the tax treatment of the compensation. The discussed position therefore recognises the receipt as part of enhanced compensation rather than independent interest income. en-us Thu, 03 Oct 2024 00:00:00 +0530 Mon, 07 Oct 2024 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759762 Interest awarded under Section 28 of the Land Acquisition Act, 1894 on enhanced compensation for acquisition of agricultural land is treated as an accretion to the compensation itself, not as taxable interest from other sources. On that basis, Section 56(2)(viii) read with Section 145A(b) of the Income-tax Act, 1961 does not apply to tax such receipt separately, and the amount follows the tax treatment of the compensation. The discussed position therefore recognises the receipt as part of enhanced compensation rather than independent interest income. Case-Laws Income Tax Thu, 03 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759762