Held that legislature has inserted section 56(2)(viii) vide Finance Act, 2009 with effect from 1-4-2010 holding interest received on compensation or on enhanced compensation referred to in ‘clause (b) of section 145A’ as treating corresponding income as income from other sources. Accordingly, the order of the Assessing Officer is affirmed. (AY. 2013-14)
Madhav Pandharinath Kande v. ITO (2022) 195 ITD 579 (Pune) (Trib.)
S. 56 : Income from other sources-Interest on Enhanced Compensation-Interest received on compensation or on enhanced compensation is taxable under section 56(2)(viii) read with section 145A(b) applicable with effect from 1-4-2010. [S. 56(2)(viii), 145A]