Interest on enhanced compensation u/s. 28 of Land Acquisition Act is taxable: ITAT Delhi

Kanta Rani Yadav Vs PCIT (ITAT Delhi)

ITAT Delhi held that interest on enhanced compensation under section 28 of Land Acquisition Act, 1894 is not exempt u/s. 10(37). Such interest is exigible to tax u/s. 56(2)(viii) r.w.s. 145B(1). Accordingly, appeal of the assessee dismissed.

Facts- On the basis of AIMS information that the assessee had received interest of Rs 46,27,628/-, the AO issued notice u/s 148 in response to which the assessee filed a return declaring income of Rs 12,06,370/- being income from other sources. AO also held that a further amount of R

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