https://www.taxtmi.com/caselaws?id=39157 Statutory interest on compensation under the Orissa Estates Abolition Act was treated as accruing only when the compensation amount was finally quantified, because the interest could not be computed with certainty before that ascertainment. On that basis, it did not accrue year by year from the date of vesting. Applying sections 4 and 5 of the Income-tax Act, 1961, the entire interest received on payment was held to be income of the year of receipt. The Tribunal's direction on expenses was left undisturbed. en-us Mon, 01 Dec 1975 00:00:00 +0530 Tue, 13 Apr 2010 12:56:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39157 Statutory interest on compensation under the Orissa Estates Abolition Act was treated as accruing only when the compensation amount was finally quantified, because the interest could not be computed with certainty before that ascertainment. On that basis, it did not accrue year by year from the date of vesting. Applying sections 4 and 5 of the Income-tax Act, 1961, the entire interest received on payment was held to be income of the year of receipt. The Tribunal's direction on expenses was left undisturbed. Case-Laws Income Tax Mon, 01 Dec 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39157