https://www.taxtmi.com/caselaws?id=18176 The court ruled in favor of the Revenue, holding that the profit under section 41(2) of the Income-tax Act was taxable in the assessment year when the amount became due. The case involved a compensation dispute between an assessee-company and the Government of Punjab, where the court emphasized the importance of when the money payable became due for taxability under section 41(2), relying on precedents and practical considerations to support its decision. en-us Tue, 06 Dec 1994 00:00:00 +0530 Tue, 29 Sep 2009 13:15:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18176 The court ruled in favor of the Revenue, holding that the profit under section 41(2) of the Income-tax Act was taxable in the assessment year when the amount became due. The case involved a compensation dispute between an assessee-company and the Government of Punjab, where the court emphasized the importance of when the money payable became due for taxability under section 41(2), relying on precedents and practical considerations to support its decision. Case-Laws Income Tax Tue, 06 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18176