https://www.taxtmi.com/caselaws?id=49369 The Supreme Court held that the interest paid under section 34 of the Land Acquisition Act is a revenue receipt and subject to tax under the Indian Income-tax Act. The Court distinguished between compensation for land acquired and interest payable on the compensation, stating that the interest is for delayed payment and not compensation for deprivation of possession. The Court upheld the High Court's decision that the interest is taxable as a revenue receipt, dismissing the appeal with costs. en-us Thu, 09 Apr 1964 00:00:00 +0530 Sat, 23 Aug 2014 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49369 The Supreme Court held that the interest paid under section 34 of the Land Acquisition Act is a revenue receipt and subject to tax under the Indian Income-tax Act. The Court distinguished between compensation for land acquired and interest payable on the compensation, stating that the interest is for delayed payment and not compensation for deprivation of possession. The Court upheld the High Court's decision that the interest is taxable as a revenue receipt, dismissing the appeal with costs. Case-Laws Income Tax Thu, 09 Apr 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49369