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2010 (12) TMI 460 - PUNJAB AND HARYANA HIGH COURTCapital gain or agricultural income - Interest on enhanced compensation - interest paid on the excess amount under Section 28 of the 1894 Act depends upon a claim by the person whose land is acquired whereas interest under Section 34 is for delay in making payment - Interest under Section 28 is part of the amount of compensation whereas interest under Section 34 is only for delay in making payment after the compensation amount is determined - Held that: the interest component on enhanced compensation under Section 28 is liable to be taxed under Section 56 of the Act even when compensation is treated as agricultural income and is not covered by Section 45(c) of the Act - it is taxable in the year of receipt - Decided against the assessee
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