https://www.taxtmi.com/caselaws?id=26172 Interest on enhanced compensation was treated as a revenue receipt, not a capital receipt, and the taxable amount was linked to accrual rather than mere receipt. Where no regular method of accounting was employed, Section 145 did not prevent assessment on the basis supported by the statutory liability under Section 34 of the Land Acquisition Act. The court accepted that interest on enhanced compensation accrues year by year after dispossession, so only the proportionate interest referable to the relevant assessment years was taxable on an accrual basis. The distinction between trader and non-trader did not alter that result for this statutory interest. en-us Tue, 24 Jan 1984 00:00:00 +0530 Wed, 03 Feb 2010 12:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26172 Interest on enhanced compensation was treated as a revenue receipt, not a capital receipt, and the taxable amount was linked to accrual rather than mere receipt. Where no regular method of accounting was employed, Section 145 did not prevent assessment on the basis supported by the statutory liability under Section 34 of the Land Acquisition Act. The court accepted that interest on enhanced compensation accrues year by year after dispossession, so only the proportionate interest referable to the relevant assessment years was taxable on an accrual basis. The distinction between trader and non-trader did not alter that result for this statutory interest. Case-Laws Income Tax Tue, 24 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26172