Tribunal held that, interest is received under S. 28 of Land Acquisition Act, is not taxable however, interest is received under S. 34 of Land Acquisition Act, is taxable. Matter remanded. (AY. 2012-13)
Jyoti Jayantrao Indurkar v. ITO (2018) 172 ITD 439/ 68 ITR 39 (SN) (Pune) (Trib.)
S. 56 : Income from other sources-Interest is received under S. 28 of Land Acquisition Act, then same is not taxable in hands of assessee and in case interest is received under section 34 of Land Acquisition Act, same is taxable in hands of assessee-Matter remanded. . [ S.56 (2) (vii), 57,Land Acquisition Act, 1894 S. 28, 34]