Tribunal held that ;interest awarded under section 28 of Land Acquisition Act, 1894 on enhanced compensation paid for acquisition of agricultural land, would be eligible for exemption. ( AY.2013-14)
ITO v. Sangappa S. Kudarikannur. (2018) 172 ITD 332 (Bang) (Trib.)
S. 10(37) : Capital gains – Agricultural land – With in specified urban limits – Interest on compensation- Interest awarded under section 28 of Land Acquisition Act, 1894 on enhanced compensation paid for acquisition of agricultural land, would be eligible for exemption. [ S.56, Land Acquisition Act, 1894 ,S.28 ]