https://www.taxtmi.com/caselaws?id=31147 The High Court of Punjab and Haryana dismissed the revenue's appeal under Section 260A of the Income-tax Act, 1961 against a Tribunal order regarding the assessment of interest on enhanced compensation. The Court held that interest should be taxed on an accrual basis regardless of pending appeals in higher courts. Citing past dismissals of similar appeals, the Court found no substantial question of law, leading to the dismissal of the present appeal for lacking merit. The decision reaffirmed the importance of adhering to established legal principles in interpreting tax laws based on previous authoritative decisions. en-us Thu, 24 Apr 2008 00:00:00 +0530 Sat, 17 Sep 2011 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31147 The High Court of Punjab and Haryana dismissed the revenue's appeal under Section 260A of the Income-tax Act, 1961 against a Tribunal order regarding the assessment of interest on enhanced compensation. The Court held that interest should be taxed on an accrual basis regardless of pending appeals in higher courts. Citing past dismissals of similar appeals, the Court found no substantial question of law, leading to the dismissal of the present appeal for lacking merit. The decision reaffirmed the importance of adhering to established legal principles in interpreting tax laws based on previous authoritative decisions. Case-Laws Income Tax Thu, 24 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31147