Interest by reference court u/s 28 of Land Acquisition Act is not chargeable to tax

Sahebrao Kishanrao More Vs ITO (ITAT Pune)

Held that the interest granted by the reference Court u/s. 28 of the Land Acquisition Act from the date of possession of land till the date of judgment of High Court is an accretion of the value of the land acquired, not chargeable to tax.

Facts- The only issue emanates for our consideration is as to whether the CIT(A) justified in confirming the addition made by the AO u/s. 56(2)(viii) of the Act treating the interest received u/

Please become a Premium member. If you are already a Premium member, login here to access the full content.