https://www.taxtmi.com/caselaws?id=766656 Interest on compensation or enhanced compensation is separately taxable as income from other sources under Section 56(2)(viii), read with Section 145B, after the legislative amendment. The earlier view treating such interest as part of exempt compensation was held unsustainable, so an assessment accepting that contrary position without proper enquiry could not be treated as a plausible view. On that basis, the revisional power under Section 263 was available where the assessment order was erroneous and prejudicial to the Revenue, and the direction for fresh enquiry and reassessment was upheld. en-us Thu, 27 Feb 2025 00:00:00 +0530 Sat, 01 Mar 2025 08:25:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766656 Interest on compensation or enhanced compensation is separately taxable as income from other sources under Section 56(2)(viii), read with Section 145B, after the legislative amendment. The earlier view treating such interest as part of exempt compensation was held unsustainable, so an assessment accepting that contrary position without proper enquiry could not be treated as a plausible view. On that basis, the revisional power under Section 263 was available where the assessment order was erroneous and prejudicial to the Revenue, and the direction for fresh enquiry and reassessment was upheld. Case-Laws Income Tax Thu, 27 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766656