Tribunal held that the land was acquired much earlier and received enhanced compensation before the enactment of RFCTAAR law . Accordingly the interest received is chargeable to tax under section 56(1) (vii) read with section 145A(b) of the Act . Followed Shivjirao v. State (WP No. 5042 of 2013 dt 27 -8 -2013 (Bom)( HC) . (AY. 2013-14)
Azizuddin Latiphoddin Kazi v. ITO (2023) 203 ITD 152 ( Pune) ( Trib)
S.56: Income from other sources – Interest received under section 28 of Land Acquisition Act , 1894 – Chargeable to tax. [S. 56(2)(viii) , 145A(b), Land Acquisition Act , 1894 ,.28, 33, Right to Fair Compensations and Transparency in Land Acquisition , Rehabilitation and Re -Settlement (RFCT TLAAR ) Act, 2013 ]