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Taxability on interest on land compensation
I just want an opinion on interest received on compensation on land acquisition.. Any land mark judgements.. Weather the interest is covered under section 10(37)
Replies (3)
Interest on compensation /Enhanced compensation is taxable in the year in which it is received under head income from Other sources, however deduction of 50% is allowed under section 57
Thanks archit... But what about the s. C judgement which says that interest on compensation is not interest it is as per land acquisition act must be treated as part of compensation...
Can you please help with the name of case law ???
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