https://www.taxtmi.com/caselaws?id=5805 Compensation received on compulsory acquisition of an electricity undertaking is treated as "moneys payable" within section 41(2) of the Income-tax Act, and the excess over written down value is taxable as business income in the year the amount is received. The pendency of proceedings seeking enhancement of compensation does not defer taxability of the amount already determined and paid, because the receipt and accrual of that sum are complete for tax purposes. Any additional compensation received later would be taxable in the year of that later receipt. en-us Mon, 17 Apr 2000 00:00:00 +0530 Fri, 28 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5805 Compensation received on compulsory acquisition of an electricity undertaking is treated as "moneys payable" within section 41(2) of the Income-tax Act, and the excess over written down value is taxable as business income in the year the amount is received. The pendency of proceedings seeking enhancement of compensation does not defer taxability of the amount already determined and paid, because the receipt and accrual of that sum are complete for tax purposes. Any additional compensation received later would be taxable in the year of that later receipt. Case-Laws Income Tax Mon, 17 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5805