https://www.taxtmi.com/caselaws?id=27015 Statutory interest payable under section 8(2) of the Madhya Bharat Abolition of Jagirs Act, 1951 was treated as accruing from year to year because the right to receive it arose by operation of law, not by discretionary award. Interest of that kind was therefore taxable on accrual basis in the years to which it related, and only the portion attributable to the relevant year could be assessed in that year. Decisions concerning discretionary interest under section 28 of the Land Acquisition Act, 1894 were distinguished, while reasoning on similar statutory interest supported yearly assessment rather than taxation only on receipt. en-us Wed, 11 Apr 1984 00:00:00 +0530 Wed, 10 Feb 2010 12:13:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27015 Statutory interest payable under section 8(2) of the Madhya Bharat Abolition of Jagirs Act, 1951 was treated as accruing from year to year because the right to receive it arose by operation of law, not by discretionary award. Interest of that kind was therefore taxable on accrual basis in the years to which it related, and only the portion attributable to the relevant year could be assessed in that year. Decisions concerning discretionary interest under section 28 of the Land Acquisition Act, 1894 were distinguished, while reasoning on similar statutory interest supported yearly assessment rather than taxation only on receipt. Case-Laws Income Tax Wed, 11 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27015