Compensation and interest up to the date of land acquired is taxable as capital gain

Leila Advani Vs ACIT (ITAT Mumbai) Held that compensation with interest received by the assessee up to the date of land acquired pursuant to the Hon’ble Supreme Court order should be taxed under the head “Capital Gains”. Facts- The appellant is an Individual filed her return of income for the year under consideration on 28-09-2011, declaring total income of Rs 3,81,39,318 /-. The case was selected for scrutiny and relevant notices u/s 143 (2) and 142(1) were issued and duly served on the assessee. A.O. assessed the total income of the assessee at Rs 23, 15, 90,770/-. During the year unde...