https://www.taxtmi.com/caselaws?id=37629 Statutory interest on enhanced land acquisition compensation accrues from day to day from the date possession is taken, because the right to receive it arises in praesenti even if the exact amount is quantified later. For income-tax purposes, such interest is chargeable in the previous years in which it accrues, not wholly in the year of actual receipt or final payment. The court therefore held that the interest was not taxable entirely in the later assessment year and answered the issue in favour of the assessee. en-us Thu, 16 Feb 1978 00:00:00 +0530 Mon, 24 Jul 2017 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37629 Statutory interest on enhanced land acquisition compensation accrues from day to day from the date possession is taken, because the right to receive it arises in praesenti even if the exact amount is quantified later. For income-tax purposes, such interest is chargeable in the previous years in which it accrues, not wholly in the year of actual receipt or final payment. The court therefore held that the interest was not taxable entirely in the later assessment year and answered the issue in favour of the assessee. Case-Laws Income Tax Thu, 16 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37629