Amount received as compensation u/s 28 of Land Acquisition Act was taxable u/s 56(2)(viii) r.w.s 145B(1) and not exempt u/s 10(37)

Bhim Singh Vs ITO (ITAT Delhi)

Conclusion: Compensation received under Section 28 of the Land Acquisition Act was taxable under section 56(2)(viii) r.w.s 145B(1) as the provisions of section 10(37) deal with ‘compensation’ only and not “interest on compensation or enhanced compensation.

Held: Assessee received an interest amount of Rs. 1,05,75,310 under Section 28 of the Land Acquisition Act as part of enhanced compensation for acquiring agricultural land. He filed his income tax return declaring Rs. 6,07,140 as a total income for the

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