https://www.taxtmi.com/highlights?id=83388 Characterization of interest received u/s 28 of the Land Acquisition Act, 1894, as part of enhanced compensation for compulsory acquisition of agricultural land. The key points are: whether the interest is a revenue receipt chargeable as income from other sources or an integral part of exempt compensation u/s 10(37). The Punjab & Haryana High Court held that such interest is taxable income from other sources. The Delhi High Court observed that enhanced compensation and interest thereon are income from other sources, considering the Finance (No. 2) Act, 2010 and the Ghanshyam Das (HUF) judgment. The ITAT dismissed the assessee's appeal, concluding that interest on compensation or enhanced compensation is taxable income from other sources u/s 56(2)(viii). en-us Tue, 26 Nov 2024 08:52:29 +0530 Tue, 26 Nov 2024 08:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=83388 Characterization of interest received u/s 28 of the Land Acquisition Act, 1894, as part of enhanced compensation for compulsory acquisition of agricultural land. The key points are: whether the interest is a revenue receipt chargeable as income from other sources or an integral part of exempt compensation u/s 10(37). The Punjab & Haryana High Court held that such interest is taxable income from other sources. The Delhi High Court observed that enhanced compensation and interest thereon are income from other sources, considering the Finance (No. 2) Act, 2010 and the Ghanshyam Das (HUF) judgment. The ITAT dismissed the assessee's appeal, concluding that interest on compensation or enhanced compensation is taxable income from other sources u/s 56(2)(viii). Highlights Income Tax Tue, 26 Nov 2024 08:52:29 +0530 https://www.taxtmi.com/highlights?id=83388