https://www.taxtmi.com/caselaws?id=205101 Capital gains from compulsory acquisition were held taxable in the assessment year relevant to the previous year in which possession was delivered, because delivery of possession under the Punjab Development of Damaged Areas Act, 1951 effected the statutory transfer and absolute vesting of the property. The later determination or receipt of compensation did not govern the year of taxability under section 45 of the Income-tax Act, 1961. The question was answered in favour of the assessee and against the Revenue. en-us Fri, 02 Jul 2010 00:00:00 +0530 Sat, 16 Jul 2011 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205101 Capital gains from compulsory acquisition were held taxable in the assessment year relevant to the previous year in which possession was delivered, because delivery of possession under the Punjab Development of Damaged Areas Act, 1951 effected the statutory transfer and absolute vesting of the property. The later determination or receipt of compensation did not govern the year of taxability under section 45 of the Income-tax Act, 1961. The question was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Fri, 02 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205101