https://www.taxtmi.com/caselaws?id=18156 Capital gains from acquisition of property under the Assam Land (Requisition and Acquisition) Act, 1964 were not taxable before compensation was determined. Although the land vested in the Government on service or publication of the acquisition order under section 9, the amount payable to the owner still had to be claimed and assessed by the Collector under section 11. Because capital gains depend on a completed transfer with a determinable consideration, vesting alone did not create an assessable gain. Taxation could arise only after the compensation amount became due and was quantified. en-us Thu, 26 Sep 1996 00:00:00 +0530 Tue, 29 Sep 2009 11:46:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18156 Capital gains from acquisition of property under the Assam Land (Requisition and Acquisition) Act, 1964 were not taxable before compensation was determined. Although the land vested in the Government on service or publication of the acquisition order under section 9, the amount payable to the owner still had to be claimed and assessed by the Collector under section 11. Because capital gains depend on a completed transfer with a determinable consideration, vesting alone did not create an assessable gain. Taxation could arise only after the compensation amount became due and was quantified. Case-Laws Income Tax Thu, 26 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18156