https://www.taxtmi.com/caselaws?id=67464 Interest received on refund of excess estate duty was treated as revenue income, not capital receipt, because it remained linked to statutory interest and, on the facts, the continuing Hindu undivided family retained the income character despite reliance on a different Supreme Court ruling. The amount was assessable in the year of receipt since the assessee used cash accounting in the relevant years and, even on a mercantile basis, the sum became effectively quantifiable and received only when the refund voucher was delivered. Interest under the advance-tax provisions was also held leviable, as no legal basis was shown to exclude the statutory consequence. en-us Thu, 15 Feb 1990 00:00:00 +0530 Thu, 10 Mar 2011 17:11:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67464 Interest received on refund of excess estate duty was treated as revenue income, not capital receipt, because it remained linked to statutory interest and, on the facts, the continuing Hindu undivided family retained the income character despite reliance on a different Supreme Court ruling. The amount was assessable in the year of receipt since the assessee used cash accounting in the relevant years and, even on a mercantile basis, the sum became effectively quantifiable and received only when the refund voucher was delivered. Interest under the advance-tax provisions was also held leviable, as no legal basis was shown to exclude the statutory consequence. Case-Laws Income Tax Thu, 15 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67464