Tribunal held that, interest awarded on enhanced compensation paid by Government for acquisition of agricultural land of assessee under S. 28 of Acquisition Act would partake of character of compensation and would be eligible for exemption. ( AY. 2013-14)
ITO v. Vinayak Hari Palled (2018) 173 ITD 399 (Bang.)(Trib.)
S. 10(37) : Capital gains – Acquisition of agricultural land- Interest -Interest awarded on enhanced compensation paid by Government for acquisition of agricultural land under S. 28 of Acquisition Act would partake of character of compensation and would be eligible for exemption. [Land Acquisition Act, 1894, S.10(37), 56(2)(vii)]