https://www.taxtmi.com/caselaws?id=180474 The High Court set aside the order of the Chief Commissioner and Commissioner of Income-tax, allowing the writ petition challenging the income tax assessment on compensation received under the Land Acquisition Act. The court upheld the spread over of interest income over different years, emphasizing adherence to accounting methods and the petitioner's right to pursue the writ petition despite alternative remedies. The court highlighted the importance of following High Court decisions until overruled by the Supreme Court, even with pending appeals, ultimately ruling in favor of the petitioner after a 19-year legal battle. en-us Sat, 20 Nov 2004 00:00:00 +0530 Fri, 25 Mar 2016 18:12:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180474 The High Court set aside the order of the Chief Commissioner and Commissioner of Income-tax, allowing the writ petition challenging the income tax assessment on compensation received under the Land Acquisition Act. The court upheld the spread over of interest income over different years, emphasizing adherence to accounting methods and the petitioner's right to pursue the writ petition despite alternative remedies. The court highlighted the importance of following High Court decisions until overruled by the Supreme Court, even with pending appeals, ultimately ruling in favor of the petitioner after a 19-year legal battle. Case-Laws Income Tax Sat, 20 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180474