https://www.taxtmi.com/caselaws?id=65423 Enhanced compensation received on compulsory acquisition is taxable in the year of receipt under section 45(5) of the Income-tax Act, 1961, with later adjustment available under section 155(16) if the amount is reduced. The ruling applied Ghanshyam (HUF) to hold that pending appeals do not defer taxability of enhanced compensation, and extended the same treatment to interest under section 28 of the Land Acquisition Act, 1894 because it forms part of the enhanced compensation or accretion to value. The earlier view in Rama Bai was treated as inapplicable because it did not consider the amended statutory scheme. en-us Fri, 11 Sep 2009 00:00:00 +0530 Tue, 15 Feb 2011 15:57:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65423 Enhanced compensation received on compulsory acquisition is taxable in the year of receipt under section 45(5) of the Income-tax Act, 1961, with later adjustment available under section 155(16) if the amount is reduced. The ruling applied Ghanshyam (HUF) to hold that pending appeals do not defer taxability of enhanced compensation, and extended the same treatment to interest under section 28 of the Land Acquisition Act, 1894 because it forms part of the enhanced compensation or accretion to value. The earlier view in Rama Bai was treated as inapplicable because it did not consider the amended statutory scheme. Case-Laws Income Tax Fri, 11 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65423