Exemption u/s. 10(37) admissible on interest received on enhanced compensation

Veeraswamy Jotheeswaran Vs ITO (ITAT Chennai)

ITAT Chennai held that interest received on enhanced compensation forms part of the compensation and hence entitled for exemption under section 10(37) of the Income Tax Act and accordingly, not taxable. Accordingly, appeal of the assessee allowed.

Facts- Assessee had received compensation for land acquisition of Rs.58,49,228/- from Special District Revenue Officer, National Highway Authority of India (NHAI). Since no return of income was filed by the assessee, the AO initiated proceedings u/s.148 of the Act. On p

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