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1989 (11) TMI 3 - SC - Income Tax
Acquisition of Land - Interest on Compensation Awarded is in the nature of income and not capital - it cannot be taxed in a lump sum on the date of order granting interest
The Supreme Court granted special leave petition under article 136, set aside the Tribunal's order, and allowed the appeal regarding the accrual of interest on compensation under the Land Acquisition Act. The assessment will be modified accordingly. No costs were awarded. (Case citation: 1989 (11) TMI 3 - Supreme Court)