https://www.taxtmi.com/caselaws?id=762171 Interest under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land is taxable as income from other sources after the insertion of section 56(2)(viii), read with section 57(iv) and section 145A(b) of the Income-tax Act, 1961. The post-2010 statutory scheme treats such interest as a separate revenue receipt taxable on receipt, with only the limited deduction permitted by section 57(iv). Section 10(37) exempts capital gains from transfer of agricultural land, but does not extend to the interest component once the later charging provisions apply. en-us Thu, 21 Nov 2024 00:00:00 +0530 Mon, 25 Nov 2024 13:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762171 Interest under section 28 of the Land Acquisition Act, 1894 on enhanced compensation for compulsory acquisition of agricultural land is taxable as income from other sources after the insertion of section 56(2)(viii), read with section 57(iv) and section 145A(b) of the Income-tax Act, 1961. The post-2010 statutory scheme treats such interest as a separate revenue receipt taxable on receipt, with only the limited deduction permitted by section 57(iv). Section 10(37) exempts capital gains from transfer of agricultural land, but does not extend to the interest component once the later charging provisions apply. Case-Laws Income Tax Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762171