https://www.taxtmi.com/caselaws?id=21381 The High Court held that interest on mesne profits is not taxable but ruled that interest on damages for waste is taxable and should be assessed annually, not only upon realization. The court emphasized the need to tax the interest accrued annually in the absence of accounting details. The judgment clarified the tax treatment of interest awarded by the civil court in cases of damages decreed for waste committed on property, highlighting the importance of assessing income over time rather than solely upon receipt. en-us Mon, 06 Apr 1992 00:00:00 +0530 Tue, 24 Nov 2009 10:28:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21381 The High Court held that interest on mesne profits is not taxable but ruled that interest on damages for waste is taxable and should be assessed annually, not only upon realization. The court emphasized the need to tax the interest accrued annually in the absence of accounting details. The judgment clarified the tax treatment of interest awarded by the civil court in cases of damages decreed for waste committed on property, highlighting the importance of assessing income over time rather than solely upon receipt. Case-Laws Income Tax Mon, 06 Apr 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21381