https://www.taxtmi.com/caselaws?id=65151 Where an award amount remains under challenge and its operation is stayed, no enforceable right to receive income arises for section 5 purposes, so the amount does not accrue as taxable income merely because it is withdrawn against a bank guarantee. The disputed principal therefore was not taxable in the relevant year on accrual basis. As the principal itself had not accrued in a real and enforceable sense, the related interest also could not be treated as having accrued and was not assessable in that year. en-us Fri, 28 Feb 1986 00:00:00 +0530 Sat, 12 Feb 2011 15:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65151 Where an award amount remains under challenge and its operation is stayed, no enforceable right to receive income arises for section 5 purposes, so the amount does not accrue as taxable income merely because it is withdrawn against a bank guarantee. The disputed principal therefore was not taxable in the relevant year on accrual basis. As the principal itself had not accrued in a real and enforceable sense, the related interest also could not be treated as having accrued and was not assessable in that year. Case-Laws Income Tax Fri, 28 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65151