https://www.taxtmi.com/caselaws?id=212039 Interest received on a motor accident compensation award was held not taxable in the year of receipt because the underlying award had not attained finality and remained under challenge before the High Court. The Tribunal reasoned that the amount was paid under an interim arrangement and could still be reduced or refunded, so it lacked the certainty and irrevocability needed for accrual as income on a real basis. It also distinguished authorities on land acquisition compensation and TDS, finding them inapplicable to a disputed and contingent receipt. The addition was deleted. en-us Thu, 02 Feb 2012 00:00:00 +0530 Thu, 12 Apr 2012 09:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212039 Interest received on a motor accident compensation award was held not taxable in the year of receipt because the underlying award had not attained finality and remained under challenge before the High Court. The Tribunal reasoned that the amount was paid under an interim arrangement and could still be reduced or refunded, so it lacked the certainty and irrevocability needed for accrual as income on a real basis. It also distinguished authorities on land acquisition compensation and TDS, finding them inapplicable to a disputed and contingent receipt. The addition was deleted. Case-Laws Income Tax Thu, 02 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212039