Taxability of interest on compensation treated as income when received; escalation claims taxable when realisation is reasonably certain. Interest on compensation or enhanced compensation is deemed income of the tax year when received notwithstanding section 276; escalation claims and export incentives are taxable when reasonable certainty of realisation is achieved; amounts under section 2(49)(w) are income when received if not previously taxed.
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Provisions expressly mentioned in the judgment/order text.
Taxability of interest on compensation treated as income when received; escalation claims taxable when realisation is reasonably certain.
Interest on compensation or enhanced compensation is deemed income of the tax year when received notwithstanding section 276; escalation claims and export incentives are taxable when reasonable certainty of realisation is achieved; amounts under section 2(49)(w) are income when received if not previously taxed.
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