https://www.taxtmi.com/caselaws?id=10442 Interest accruing on fixed deposit receipts created out of land acquisition compensation is taxable in the relevant assessment year when the assessee has an enforceable right to receive that interest. The High Court distinguished cases involving a dispute over the very entitlement to compensation, noting that here only the quantum of compensation was under challenge. Because the interest had already accrued and there was no lien, encumbrance, or guarantee arrangement preventing receipt, its taxation could not be deferred. The deletion of the addition was therefore held erroneous and the accrued interest was restored to tax. en-us Thu, 27 Jan 2005 00:00:00 +0530 Wed, 15 Jul 2009 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10442 Interest accruing on fixed deposit receipts created out of land acquisition compensation is taxable in the relevant assessment year when the assessee has an enforceable right to receive that interest. The High Court distinguished cases involving a dispute over the very entitlement to compensation, noting that here only the quantum of compensation was under challenge. Because the interest had already accrued and there was no lien, encumbrance, or guarantee arrangement preventing receipt, its taxation could not be deferred. The deletion of the addition was therefore held erroneous and the accrued interest was restored to tax. Case-Laws Income Tax Thu, 27 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10442