Interest on enhanced compensation on compulsory acquisition
This query is : Resolved
Jasbir Singh
(Querist)
09 November 2011
Dear Sir/ Madam,
Please suggest me whether Interest received on enhanced compensation on compulsory acquisition of agriculture land is tax free as per Honable Supreme Court in Ghansham Dass HUF OR is taxable as per latest Haryan & Punjab High Court Judgement of Bir Singh.
Thanks & Regards-
CA. Jasbir Dahiya
Cont. No. 9813315050
Please suggest me whether Interest received on enhanced compensation on compulsory acquisition of agriculture land is tax free as per Honable Supreme Court in Ghansham Dass HUF OR is taxable as per latest Haryan & Punjab High Court Judgement of Bir Singh.
Thanks & Regards-
CA. Jasbir Dahiya
Cont. No. 9813315050
Aditya Maheshwari
(Expert)
09 November 2011
As per the amended section 145A
(b) interest received by an assessee on compensation or on enhanced compensation, as the case may be, shall be deemed to be the income of the year in which it is received.
(b) interest received by an assessee on compensation or on enhanced compensation, as the case may be, shall be deemed to be the income of the year in which it is received.
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