Case Law Analysis
|Income Tax Appellate Tribunal
Interest on land-acquisition compensation exempt under Sec 10(37) Income-Tax Act | ITAT Delhi Bench : ITAT
The Delhi ITAT held that interest payable on compensation under the Land Acquisition Act is exempt under Section 10(37) of the Income-Tax Act, overturning the earlier assessment that taxed it as 'other income'. This relief applies to all individuals and entities receiving acquisition compensation.