Interest on enhanced compensation taxable as Other Income post Section 56(2)(viii) amendment

Ajay Kumar Vs ITO (ITAT Chandigarh)

ITAT: Interest on enhanced compensation taxable as Income From Other Sources post-amendment u/s 56(2)(viii); Ghanshyam (HUF) ruling inapplicable

• The assessee, Shri Ajay Kumar, is an individual whose agricultural land was compulsorily acquired by the Haryana Urban Development Authority (HUDA). Consequent to the enhancement of compensation by the learned Additional District Judge vide order dated 24.12.2013, which was further affirmed and enhanced by the Hon’ble Punjab & Haryana High Court vide order dated 22.07.

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