https://www.taxtmi.com/caselaws?id=255917 Interest received on enhanced compensation for acquired land was treated as taxable on receipt basis under section 45(5) of the Income-tax Act, 1961, because the later Supreme Court ruling in Ghanshyam (HUF) governed the treatment of interest forming part of enhanced compensation under section 28 of the Land Acquisition Act. The distinction made by the first appellate authority was rejected, and the earlier decision in Rama Bai was held inapplicable since it did not consider section 45(5). The result was that the assessee's claim to assess the interest on accrual basis for assessment year 2006-07 failed. en-us Fri, 17 Jan 2014 00:00:00 +0530 Fri, 29 Jan 2016 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255917 Interest received on enhanced compensation for acquired land was treated as taxable on receipt basis under section 45(5) of the Income-tax Act, 1961, because the later Supreme Court ruling in Ghanshyam (HUF) governed the treatment of interest forming part of enhanced compensation under section 28 of the Land Acquisition Act. The distinction made by the first appellate authority was rejected, and the earlier decision in Rama Bai was held inapplicable since it did not consider section 45(5). The result was that the assessee's claim to assess the interest on accrual basis for assessment year 2006-07 failed. Case-Laws Income Tax Fri, 17 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255917