Interest on Enhanced Compensation Taxable as Other Sources Income: ITAT Delhi

Advertisement Jagpal Vs PCIT (ITAT Delhi) Interest on Enhanced Compensation Taxable as ‘Other Sources’: ITAT Upholds PCIT’s Section 263 Revision and Rejects Section 10(37) Exemption The Delhi ITAT dismissed the assessee’s appeal and upheld the revision order passed under Section 263, holding that interest of ₹82.88 lakh received under Section 28 of the Land Acquisition Act on enhanced compensation is taxable as “income from other sources” under Section 56(2)(viii) read with Section 145B, and is not exempt under Section 10(37). The Tribunal noted that the Assessing Officer had ...