Interest on compulsory acquisition of land u/s 28 of Land Acquisition Act is exempt

ITO Vs Chawli Devi (ITAT Chandigarh) Interest received by assessee on compulsary acquisition of of its land u/s 28 of Land Acquisition Act is in the nature of compensation and not interest which is taxable under the head of income from other sources u/s 56. FULL TEXT OF THE JUDGMENT/ORDER OF CHHATTISGARH HIGH COURT These two appeals by the Department are directed against the separate orders dated 30/10/2019 and 31/10/2019 of Ld. CIT(A), Panchkula. 2. Since these appeals belonging to the same assessee and heard together, therefore, for the sake of convenience and brevity, these are disposed off...