https://www.taxtmi.com/caselaws?id=65320 The Tribunal dismissed the appeal for the assessment year 1994-95 and allowed the appeal for the assessment year 1995-96. The assessment of capital gains amounting to Rs. 13,40,123 made by the Assessing Officer was restored for the latter year. The Tribunal held that enhanced compensation was taxable in the year of receipt under section 45(5)(b), irrespective of ongoing litigation. Interest on enhanced compensation was to be taxed on an accrual basis when the right to receive compensation was finally settled by the court. en-us Thu, 10 Mar 2005 00:00:00 +0530 Mon, 14 Feb 2011 18:45:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65320 The Tribunal dismissed the appeal for the assessment year 1994-95 and allowed the appeal for the assessment year 1995-96. The assessment of capital gains amounting to Rs. 13,40,123 made by the Assessing Officer was restored for the latter year. The Tribunal held that enhanced compensation was taxable in the year of receipt under section 45(5)(b), irrespective of ongoing litigation. Interest on enhanced compensation was to be taxed on an accrual basis when the right to receive compensation was finally settled by the court. Case-Laws Income Tax Thu, 10 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65320