https://www.taxtmi.com/caselaws?id=68456 Interest awarded by a civil court on delayed contract receipts was held not taxable in the year of receipt because the underlying right to receive the amount had not become final while the litigation remained pending and withdrawal was subject to an undertaking to refund. The interest was treated as accruing year by year over the period of delay, so it could not be assessed as a single lump sum in one year merely because it was quantified and paid then. Taxability was postponed until the dispute attained finality and the recipient's entitlement was finally upheld. en-us Tue, 28 Nov 2000 00:00:00 +0530 Wed, 30 Mar 2011 15:35:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68456 Interest awarded by a civil court on delayed contract receipts was held not taxable in the year of receipt because the underlying right to receive the amount had not become final while the litigation remained pending and withdrawal was subject to an undertaking to refund. The interest was treated as accruing year by year over the period of delay, so it could not be assessed as a single lump sum in one year merely because it was quantified and paid then. Taxability was postponed until the dispute attained finality and the recipient's entitlement was finally upheld. Case-Laws Income Tax Tue, 28 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68456