https://www.taxtmi.com/caselaws?id=26314 Interest on compensation raised a legal question on when income accrues for tax purposes: whether the entire interest accrued in one previous year relevant to AY 1978-79 or had to be taxed on a year-wise accrual basis. The High Court did not decide the merits of the taxability issue, but treated the timing of accrual and the correctness of taxing the whole amount in a single assessment year as questions of law arising from the appellate order. It directed the Tribunal to draw up a statement of the case and refer the formulated questions to the High Court for opinion. en-us Tue, 09 Sep 1986 00:00:00 +0530 Thu, 04 Feb 2010 11:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26314 Interest on compensation raised a legal question on when income accrues for tax purposes: whether the entire interest accrued in one previous year relevant to AY 1978-79 or had to be taxed on a year-wise accrual basis. The High Court did not decide the merits of the taxability issue, but treated the timing of accrual and the correctness of taxing the whole amount in a single assessment year as questions of law arising from the appellate order. It directed the Tribunal to draw up a statement of the case and refer the formulated questions to the High Court for opinion. Case-Laws Income Tax Tue, 09 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26314