https://www.taxtmi.com/caselaws?id=66029 Interest payable under section 15(1) of the Andhra Pradesh (Telangana Area) Abolition of Inams Act, 1955 was treated as a statutory obligation arising from the date of vesting, with no discretion in quantification or grant. On that basis, the interest was regarded as accruing year-wise, similar to statutory interest under section 34 of the Land Acquisition Act, and taxable only in the year of accrual rather than as a single lump sum on receipt. Accordingly, only the amount relatable to the relevant year was brought to tax in the assessment year under appeal, and the balance addition was reduced. en-us Mon, 28 Nov 1988 00:00:00 +0530 Mon, 21 Feb 2011 10:04:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66029 Interest payable under section 15(1) of the Andhra Pradesh (Telangana Area) Abolition of Inams Act, 1955 was treated as a statutory obligation arising from the date of vesting, with no discretion in quantification or grant. On that basis, the interest was regarded as accruing year-wise, similar to statutory interest under section 34 of the Land Acquisition Act, and taxable only in the year of accrual rather than as a single lump sum on receipt. Accordingly, only the amount relatable to the relevant year was brought to tax in the assessment year under appeal, and the balance addition was reduced. Case-Laws Income Tax Mon, 28 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66029