https://www.taxtmi.com/caselaws?id=195373 The Court upheld the lower authorities' decisions regarding the taxability of interest received by the assessee under Section 244A of the Income Tax Act. It ruled that the interest income was taxable in the year of receipt, emphasizing that the liability to pay tax arises upon income receipt, not contingent on appeal outcomes. The Court differentiated the case from land acquisition compensation matters, affirming the straightforward taxability of interest on refunds. Consequently, the Court dismissed the appeal, affirming the taxability of the interest received by the assessee on account of the refund. en-us Tue, 17 Jun 2014 00:00:00 +0530 Sat, 28 Oct 2017 10:09:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195373 The Court upheld the lower authorities' decisions regarding the taxability of interest received by the assessee under Section 244A of the Income Tax Act. It ruled that the interest income was taxable in the year of receipt, emphasizing that the liability to pay tax arises upon income receipt, not contingent on appeal outcomes. The Court differentiated the case from land acquisition compensation matters, affirming the straightforward taxability of interest on refunds. Consequently, the Court dismissed the appeal, affirming the taxability of the interest received by the assessee on account of the refund. Case-Laws Income Tax Tue, 17 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195373