https://www.taxtmi.com/caselaws?id=35208 In compulsory purchase proceedings under Chapter XXC of the Income-tax Act, equity may justify payment of interest on the consideration where the owner is compelled to part with property and payment is delayed while the Government enjoys possession and any appreciation in value. The High Court treated the rate and period of interest as dependent on the facts and circumstances, and recognised writ jurisdiction as available to award equitable interest on the amount payable. On the stated facts, the petitioners were held entitled to simple interest at 6% per annum from the date possession was taken until the date of payment. en-us Mon, 14 Dec 2009 00:00:00 +0530 Mon, 25 Jan 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35208 In compulsory purchase proceedings under Chapter XXC of the Income-tax Act, equity may justify payment of interest on the consideration where the owner is compelled to part with property and payment is delayed while the Government enjoys possession and any appreciation in value. The High Court treated the rate and period of interest as dependent on the facts and circumstances, and recognised writ jurisdiction as available to award equitable interest on the amount payable. On the stated facts, the petitioners were held entitled to simple interest at 6% per annum from the date possession was taken until the date of payment. Case-Laws Income Tax Mon, 14 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35208