https://www.taxtmi.com/caselaws?id=37750 Interest on enhanced compensation under the Land Acquisition Act accrues for income-tax purposes only when the court awards it with the enhanced compensation, because the right to receive such interest arises only after a reference, enhancement, and exercise of judicial discretion. Mere dispossession or the acquisition notification does not create an enforceable present right to the interest, and therefore does not trigger accrual. Applying the accrual principle, income arises only when there is a corresponding debt due and a present right to receive it. The questions were answered in favour of the revenue and against the assessee. en-us Tue, 06 Feb 1979 00:00:00 +0530 Wed, 31 Mar 2010 17:39:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37750 Interest on enhanced compensation under the Land Acquisition Act accrues for income-tax purposes only when the court awards it with the enhanced compensation, because the right to receive such interest arises only after a reference, enhancement, and exercise of judicial discretion. Mere dispossession or the acquisition notification does not create an enforceable present right to the interest, and therefore does not trigger accrual. Applying the accrual principle, income arises only when there is a corresponding debt due and a present right to receive it. The questions were answered in favour of the revenue and against the assessee. Case-Laws Income Tax Tue, 06 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37750