https://www.taxtmi.com/caselaws?id=262650 A right to receive enhanced land acquisition compensation was treated as an actionable claim and, therefore, a transferable species of property; on that basis, its gift to a trust was legally valid. However, where the assessee received the enhanced compensation and retained it for about six years before passing it on, the amount was treated as income in his hands for the relevant period. The delayed transfer did not change the tax character of the receipt while it remained with him, so the compensation was correctly assessed in his hands. en-us Tue, 14 Oct 2014 00:00:00 +0530 Sat, 26 Sep 2015 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=262650 A right to receive enhanced land acquisition compensation was treated as an actionable claim and, therefore, a transferable species of property; on that basis, its gift to a trust was legally valid. However, where the assessee received the enhanced compensation and retained it for about six years before passing it on, the amount was treated as income in his hands for the relevant period. The delayed transfer did not change the tax character of the receipt while it remained with him, so the compensation was correctly assessed in his hands. Case-Laws Income Tax Tue, 14 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=262650