https://www.taxtmi.com/caselaws?id=763847 Interest received on compensation or enhanced compensation for compulsory acquisition of land is chargeable to tax as income from other sources after the statutory insertion of section 56(2)(viii) of the Income-tax Act, 1961. Although interest on enhanced compensation had earlier been treated as part of compensation in the context of section 45(5), the amended provision specifically brings such interest within the taxable head. Interest paid under sections 28 or 34 of the Land Acquisition Act, 1894 is therefore taxable, and the claim of exemption fails. en-us Fri, 27 Dec 2024 00:00:00 +0530 Mon, 30 Dec 2024 08:39:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763847 Interest received on compensation or enhanced compensation for compulsory acquisition of land is chargeable to tax as income from other sources after the statutory insertion of section 56(2)(viii) of the Income-tax Act, 1961. Although interest on enhanced compensation had earlier been treated as part of compensation in the context of section 45(5), the amended provision specifically brings such interest within the taxable head. Interest paid under sections 28 or 34 of the Land Acquisition Act, 1894 is therefore taxable, and the claim of exemption fails. Case-Laws Income Tax Fri, 27 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763847