https://www.taxtmi.com/caselaws?id=251561 The Supreme Court confirmed the individual status of three brothers for tax assessment, rejecting the Assessing Officer's classification as an Association of Persons. The Court held that the income from the acquired land was not generated through a joint venture but rather a government action, aligning with the Meera & Company case precedent. Additionally, the Court ruled that interest on enhanced compensation should be taxed in the year of receipt, not spread over time, overturning the High Court's decision. en-us Thu, 04 Sep 2014 00:00:00 +0530 Sat, 18 Aug 2018 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251561 The Supreme Court confirmed the individual status of three brothers for tax assessment, rejecting the Assessing Officer's classification as an Association of Persons. The Court held that the income from the acquired land was not generated through a joint venture but rather a government action, aligning with the Meera & Company case precedent. Additionally, the Court ruled that interest on enhanced compensation should be taxed in the year of receipt, not spread over time, overturning the High Court's decision. Case-Laws Income Tax Thu, 04 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251561