https://www.taxtmi.com/caselaws?id=462238 Interest under section 28 of the Land Acquisition Act, 1894, forms part of enhanced compensation rather than a separate revenue receipt where its character is distinguished from interest under section 34. The provisions governing taxation of interest on compensation address timing and do not alter the compensatory character of section 28 interest; consequently, such interest is not taxable as income from other sources in the proposed manner and may qualify for the exemption applicable to enhanced compensation. Deduction for long-term capital gains on transfer of agricultural land is available where the record substantiates reinvestment in a residential house, satisfying the conditions for section 54F relief. en-us Wed, 08 Jan 2025 00:00:00 +0530 Tue, 03 Jun 2025 19:32:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462238 Interest under section 28 of the Land Acquisition Act, 1894, forms part of enhanced compensation rather than a separate revenue receipt where its character is distinguished from interest under section 34. The provisions governing taxation of interest on compensation address timing and do not alter the compensatory character of section 28 interest; consequently, such interest is not taxable as income from other sources in the proposed manner and may qualify for the exemption applicable to enhanced compensation. Deduction for long-term capital gains on transfer of agricultural land is available where the record substantiates reinvestment in a residential house, satisfying the conditions for section 54F relief. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462238