The assessee has received interest u/s 28 of the Land Acquisition Act is a capital receipt being an integral part of enhanced compensation and is exempt u/s 10(37) of the Income Tax Act 1961
In recent ruling, the Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) observed that interest under land acquisition Act is capital receipt being an integral part of enhanced compensation, it is exempted under Section 10 (37) of the Income Tax Act, 1961. The assessee has also relied on the plethora of other…
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