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Tax recognition of compensation interest and escalation claims depends on receipt and reasonable certainty of realisation. Section 278 sets timing rules: interest on compensation or enhanced compensation is deemed income when received; escalation claims and export incentives are income when reasonable certainty of realisation is achieved; amounts falling under section 2(49)(w) are income when received if not previously charged to tax.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
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<h1>Tax recognition of compensation interest and escalation claims depends on receipt and reasonable certainty of realisation.</h1> Section 278 sets timing rules: interest on compensation or enhanced compensation is deemed income when received; escalation claims and export incentives are income when reasonable certainty of realisation is achieved; amounts falling under section 2(49)(w) are income when received if not previously charged to tax.
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