Sh. Rajesh Sahu Vs. Assessing Officer

Parties Involved

Facts Summary

The assessee received interest of Rs. 3,97,56,460/- on enhanced compensation from HUDA after the compulsory acquisition of his agricultural land. The Assessing Officer (AO) assessed the interest as exempt under section 10(37) of the Income-tax Act, 1961. The Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre (CIT(A)/NFAC) revised the assessment order, directing the AO to pass a fresh order considering the interest as taxable income from 'other sources'. The assessee appealed against this revision.…

Legal Issues

• 1. Taxability of interest received on enhanced compensation under section 28 of the Land Acquisition Act, 1894.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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