https://www.taxtmi.com/caselaws?id=388330 Interest on enhanced compensation from compulsory acquisition was treated as taxable on accrual basis for periods before section 145A of the Income-tax Act became operative, because the legal position then required year-wise taxation of interest on delayed or enhanced compensation. The deeming rule taxing such interest on receipt basis applied only prospectively from assessment year 2010-11. On the facts recorded, the assessee had apportioned the interest to the relevant years and discharged the corresponding tax burden, and no defect was shown in that allocation or in the supporting material. The addition was therefore directed to be deleted. en-us Wed, 16 Oct 2019 00:00:00 +0530 Wed, 13 Nov 2019 10:07:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388330 Interest on enhanced compensation from compulsory acquisition was treated as taxable on accrual basis for periods before section 145A of the Income-tax Act became operative, because the legal position then required year-wise taxation of interest on delayed or enhanced compensation. The deeming rule taxing such interest on receipt basis applied only prospectively from assessment year 2010-11. On the facts recorded, the assessee had apportioned the interest to the relevant years and discharged the corresponding tax burden, and no defect was shown in that allocation or in the supporting material. The addition was therefore directed to be deleted. Case-Laws Income Tax Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388330