https://www.taxtmi.com/caselaws?id=22871 Interest on compensation under the Land Acquisition Act was held taxable in the year of actual receipt where the assessee followed the cash system of accounting and had not returned the interest on accrual basis in earlier years. The court distinguished the authority relied on for spreading the amount over earlier assessment years because it arose in a different statutory context and involved an assessee not previously assessed on that basis. As compensation had not been finally quantified, the right to interest did not mature year by year, so apportionment over supposed earlier accrual periods was rejected. en-us Thu, 26 Jul 1990 00:00:00 +0530 Mon, 14 Dec 2009 17:18:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22871 Interest on compensation under the Land Acquisition Act was held taxable in the year of actual receipt where the assessee followed the cash system of accounting and had not returned the interest on accrual basis in earlier years. The court distinguished the authority relied on for spreading the amount over earlier assessment years because it arose in a different statutory context and involved an assessee not previously assessed on that basis. As compensation had not been finally quantified, the right to interest did not mature year by year, so apportionment over supposed earlier accrual periods was rejected. Case-Laws Income Tax Thu, 26 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22871