Interest on enhanced compensation for land acquisition taxable as 'Income from Other Sources'.

Interest received on enhanced compensation for compulsory land acquisition under Section 28 of the Land Acquisition Act, 1894, is taxable as 'Income from Other Sources' under Section 56(2)(viii) of the Income Tax Act, as held by the ITAT. This decision aligns with the Delhi High Court's ruling in a similar case, distinguishing it from the Supreme Court's decision that categorized such interest as capital gains. The assessee's claim for exemption under Section 10(37) was denied. .....

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