The ITAT Pune ruled on interest income from land acquisition and fixed deposits. Interest u/s 28 of Land...

The ITAT Pune ruled on interest income from land acquisition and fixed deposits. Interest u/s 28 of Land Acquisition Act is not taxable based on Bombay High Court precedent. Interest from joint bank guarantee not offered by sister is taxable in taxpayer's hands. The decision favored the taxpayer on land acquisition interest but ruled against on joint bank guarantee interest. .....

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