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Income Tax

Interest u/s 28 of Land Acquisition Act from date of possession of land till date of judgement is not taxable

Case Law Details

Case Name
Sanjay Bhimrao Patil Vs ITO (ITAT Pune)
Date of Judgement/Order
Only available for paid members
Related Assessment Year
2013-14
Advertisement Sanjay Bhimrao Patil Vs ITO (ITAT Pune) ITAT Pune held that interest granted by the reference Court u/s. 28 of the Land Acquisition Act from the date of possession of land till the date of judgment of High Court is an accretion of the value of the land acquired and accordingly not taxable. Facts- According to the AO, the assessee received an amount of Rs.2,10,45,467/- from Special Land Acquisition Officer, Udgir on account of enhanced compensation on compulsory acquisition of agricultural land belonging to the assessee and interest on enhanced compensation vide order dated 22-...
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