https://www.taxtmi.com/caselaws?id=265678 The court held in favor of the assessee on both issues. Regarding the taxability of interest on fixed deposits representing compensation, the court ruled that the interest income would be taxable only in the assessment year 2009-10 when the dispute was resolved, as the income was not in the assessee's hands due to the pending legal dispute. On the taxability of compensation for trees and other assets as capital gains, the court held that since the acquisition was for the entire land, including structures and trees, and was exempted from tax, the compensation for trees and assets should not be treated as taxable capital gains. The appeal was allowed with no costs imposed. en-us Mon, 14 Sep 2015 00:00:00 +0530 Wed, 14 Oct 2015 07:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265678 The court held in favor of the assessee on both issues. Regarding the taxability of interest on fixed deposits representing compensation, the court ruled that the interest income would be taxable only in the assessment year 2009-10 when the dispute was resolved, as the income was not in the assessee's hands due to the pending legal dispute. On the taxability of compensation for trees and other assets as capital gains, the court held that since the acquisition was for the entire land, including structures and trees, and was exempted from tax, the compensation for trees and assets should not be treated as taxable capital gains. The appeal was allowed with no costs imposed. Case-Laws Income Tax Mon, 14 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265678