https://www.taxtmi.com/caselaws?id=28535 Capital gains from compulsory acquisition of land are taxable in the previous year in which the transfer occurs, not in the year compensation is later determined or received. Compulsory acquisition is treated as a transfer under the Income-tax Act, and where the relevant acquisition law provides that the land vests on publication of the notification, the transfer is complete on that date. The timing of compensation therefore does not defer chargeability, because section 45 deems the gains to arise in the year of transfer and the computation provisions remain workable. en-us Tue, 13 Jul 1982 00:00:00 +0530 Tue, 23 Feb 2010 15:08:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28535 Capital gains from compulsory acquisition of land are taxable in the previous year in which the transfer occurs, not in the year compensation is later determined or received. Compulsory acquisition is treated as a transfer under the Income-tax Act, and where the relevant acquisition law provides that the land vests on publication of the notification, the transfer is complete on that date. The timing of compensation therefore does not defer chargeability, because section 45 deems the gains to arise in the year of transfer and the computation provisions remain workable. Case-Laws Income Tax Tue, 13 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28535