https://www.taxtmi.com/caselaws?id=269160 Enhanced compensation is taxable on receipt under section 45(5)(b) only when the assessee's right to receive it has crystallised; where entitlement itself remains sub judice in pending land acquisition proceedings, taxation must await final adjudication. Section 45(5) therefore does not apply as a complete answer if the underlying claim to compensation is still uncertain and inchoate. Interest on the enhanced compensation follows the same treatment and is not taxable in the same year while the principal right remains unresolved. For wealth tax purposes, a contingent and disputable receipt not beneficially owned on the valuation date is not includible in net wealth. en-us Tue, 08 Dec 2015 00:00:00 +0530 Mon, 02 May 2016 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269160 Enhanced compensation is taxable on receipt under section 45(5)(b) only when the assessee's right to receive it has crystallised; where entitlement itself remains sub judice in pending land acquisition proceedings, taxation must await final adjudication. Section 45(5) therefore does not apply as a complete answer if the underlying claim to compensation is still uncertain and inchoate. Interest on the enhanced compensation follows the same treatment and is not taxable in the same year while the principal right remains unresolved. For wealth tax purposes, a contingent and disputable receipt not beneficially owned on the valuation date is not includible in net wealth. Case-Laws Income Tax Tue, 08 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269160