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Land Acquisition Act: ITAT Rules Enhanced Compensation Interest Non-Taxable
Case Law Details
- Case Name
- Nitin Kumar Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Delhi
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Nitin Kumar Vs ITO (ITAT Delhi)
In the recent case of Nitin Kumar Vs ITO at ITAT Delhi, the tribunal ruled that the interest received under Section 28 of the Land Acquisition Act on enhanced compensation is part of the compensation, thereby not taxable.
In this case, the assessee, Nitin Kumar, had received interest on enhanced compensation due to compulsory acquisition of his agricultural land under Section 28 of the Land Acquisition Act 1894. The key point of contention was whether this interest was taxable under Section 56 (2) (viii) of the Income Tax Act 1961. The CIT(A) had treated the int...
