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Interest on compulsory acquisition of land u/s 28 of Land Acquisition Act is exempt
Case Law Details
- Case Name
- ITO Vs Chawli Devi (ITAT Chandigarh)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Chandigarh
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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...
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