enhanced compensation under section 28 of
the LA Act and no amount of interest was paid under
section 34 of the LA Act and that ... interest paid under section 34 of the LA
Act. Interest under section 28 , unlike under section 34 is
an accretion in value and regarded
u/s 28 of the LA Act 1894,
Sec. 56(2)(viii) overrides Sec. 10(37) ? The answer is no as the income travels ... Income Tax Act, Section 96, sections 72 and 80 of RCTRR Act 2013, sec. 28 and 34 of
the LA Act 1894 and Landmark Judicial
that Section 10(37)
of the Act operates as a special provision, excluding the application of both Section
45 of the Act and Section ... U/s 28 of the LA Act is not in the nature of interest
U/s 56(2)(viii) of the Income Tax Act
decided that the interest
received u/s 28 of the LA Act, (unlike interest u/s 34 ) is due to
the accretion to the value ... exemption u/s 10(37) of Income-tax
Act, 1961.
9.2 Interest was received of Rs.58,28,907/- u/s 34 of LA Act
Arvind Mills Ltd, Ahmedabad vs Assessee on 14 November, 2000
IN THE INCOME TAX APPELLATE
34 of the LA Act as
well as the interest awarded by the courts u/s.28 of the LA Act. Thereafter ... LA Act is different from the interest granted u/s.34 of the LA Act.
The Hon'ble Court held that the interest
Maruti Suzuki India Ltd., New Delhi vs Addl. Cit, New Delhi on 17 October, 2018
u/s. 28 of the Land
Acquisition Act, 1894 (hereinafter referred to as "the LA Act "). The
assessee filed his original return ... that the interest received on
compensation/enhanced compensation u/s. 28 and 34 of the LA Act are
revenue receipt, chargeable to tax
land acquisition under the Land
Acquisition Act, 1894 (hereinafter LA Act ) and the changed position once the RFCTLARR
Act has become applicable.
5.2 Compulsory acquisition ... Income by way of interest received on compensation u/s 34 of the LA Act that is
interest for the period from
Addl.C.I.T. Ltu, Mumbai vs Acc Ltd., Mumbai on 28 February, 2023
IN
