https://www.taxtmi.com/caselaws?id=27376 In compulsory acquisition, capital gains arise in the year possession is taken and the property vests in the Government, because transfer is complete at that point under the Income-tax Act read with the Land Acquisition Act; the subsequent determination or appeal on compensation does not postpone taxability. Enhanced compensation granted by the reference court does not accrue for tax while the State's appeal remains pending, because the assessee has no final and enforceable right to receive it until the amount becomes settled and payable. The issue on transfer was decided for the Revenue, while the accrual of enhanced compensation was decided for the assessee. en-us Mon, 19 Dec 1983 00:00:00 +0530 Fri, 28 Aug 2015 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27376 In compulsory acquisition, capital gains arise in the year possession is taken and the property vests in the Government, because transfer is complete at that point under the Income-tax Act read with the Land Acquisition Act; the subsequent determination or appeal on compensation does not postpone taxability. Enhanced compensation granted by the reference court does not accrue for tax while the State's appeal remains pending, because the assessee has no final and enforceable right to receive it until the amount becomes settled and payable. The issue on transfer was decided for the Revenue, while the accrual of enhanced compensation was decided for the assessee. Case-Laws Income Tax Mon, 19 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27376