Interest Received u/s 28 of Land Acquisition Act on Enhanced Compensation is not Taxable being Part of Compensation: ITAT deletes Income Tax Addition [Read Order]

By Ipsita Das - On July 14, 2023 12:30 pm - 2 mins read
Interest Received - Interest - Land Acquisition Act - Land Acquisition Act on Enhanced Compensation is not Taxable - ITAT deletes Income Tax Addition - ITAT - Taxscan

The Delhi Bench of Income Tax Appellate Tribunal held that the interest received by the assessee under Section 28 of the Land Acquisition Act, 1894 on enhanced compensation is part and parcel of the compensation, if the agricultural land of the assessee has been acquired under compulsory acquisition and, thus, the same is exempt income…

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