https://www.taxtmi.com/caselaws?id=57429 For section 41(2) purposes, compensation for acquisition of buses was taxable only when the instalments actually became due, not in the year the full compensation was determined. The acquisition statute provided for payment by annual instalments above the prescribed limit, so determination of compensation did not make the entire amount immediately payable. In this statutory context, "money payable" was treated as distinct from "money due", and only the instalments falling due in the relevant previous year could be brought to charge. Practical difficulty in computation could not widen the charging provision, so taxation of the full compensation was unsustainable. en-us Thu, 11 Feb 1988 00:00:00 +0530 Sun, 06 Feb 2011 02:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57429 For section 41(2) purposes, compensation for acquisition of buses was taxable only when the instalments actually became due, not in the year the full compensation was determined. The acquisition statute provided for payment by annual instalments above the prescribed limit, so determination of compensation did not make the entire amount immediately payable. In this statutory context, "money payable" was treated as distinct from "money due", and only the instalments falling due in the relevant previous year could be brought to charge. Practical difficulty in computation could not widen the charging provision, so taxation of the full compensation was unsustainable. Case-Laws Income Tax Thu, 11 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57429