https://www.taxtmi.com/caselaws?id=7451 In a compulsory purchase under the Indian Electricity Act, the date of transfer for capital gains purposes is the date possession is taken and the purchase is effected. Later arbitration fixing compensation only determines the fair market value as on that date and does not postpone the sale. On that basis, where the purchase was completed before section 12B of the Indian Income-tax Act, 1922 came into force, the later receipt of quantified compensation was not taxable as capital gains for the relevant assessment year. en-us Wed, 23 Oct 1968 00:00:00 +0530 Fri, 20 Feb 2009 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7451 In a compulsory purchase under the Indian Electricity Act, the date of transfer for capital gains purposes is the date possession is taken and the purchase is effected. Later arbitration fixing compensation only determines the fair market value as on that date and does not postpone the sale. On that basis, where the purchase was completed before section 12B of the Indian Income-tax Act, 1922 came into force, the later receipt of quantified compensation was not taxable as capital gains for the relevant assessment year. Case-Laws Income Tax Wed, 23 Oct 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7451