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2017 (11) TMI 370 - AT - Income TaxAddition of interest received on enhanced compensation as “Income from other sources” u/s 56(2)(viii) r.w.s 145A(b) - whether the interest paid under the provisions of section 28 of LA Act is part of the enhanced compensation or is it taxable as interest income? - Held that:- Interest received u/s 28 of the Land Acquisition Act is not exempt under the act as it could not partake the character of compensation for acquisition of agricultural land. It is held that the interest received on enhanced compensation in the appellant’s case is liable to tax under the head income from other sources. Accordingly, the grounds of appeal raised by the assessee are dismissed.
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