https://www.taxtmi.com/caselaws?id=12335 The court ruled in favor of the Revenue in both issues. Regarding the taxability of interest received on IDBI bonds, the court held that the interest sum should be taxed in the year it was received, following a precedent that interest cannot be spread over multiple years if received in a single year. Concerning the compensation for termination of the selling agreement, the court upheld that the payment was not genuine but a strategic move to transfer funds, ruling it should be treated as a capital receipt. The court rejected the assessee's claim and upheld the Tribunal's decision. en-us Wed, 04 Sep 2002 00:00:00 +0530 Mon, 22 Feb 2010 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12335 The court ruled in favor of the Revenue in both issues. Regarding the taxability of interest received on IDBI bonds, the court held that the interest sum should be taxed in the year it was received, following a precedent that interest cannot be spread over multiple years if received in a single year. Concerning the compensation for termination of the selling agreement, the court upheld that the payment was not genuine but a strategic move to transfer funds, ruling it should be treated as a capital receipt. The court rejected the assessee's claim and upheld the Tribunal's decision. Case-Laws Income Tax Wed, 04 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12335