https://www.taxtmi.com/caselaws?id=57996 Statutory compensation for requisitioned immovable property, when revised under the governing requisition law, retained the same character as the original recurring compensation and was treated as rent-like receipt for house property taxation under section 23 of the Income-tax Act, 1961. The enhanced amount was therefore taxable as income from house property in the earlier assessment years. Reassessment under section 147(b) was also valid because definite information about the escapement emerged only after the original assessments, and the material in the assessee's accounts was too vague and incomplete to bar reopening. en-us Tue, 31 Jul 1990 00:00:00 +0530 Wed, 15 Dec 2010 17:26:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57996 Statutory compensation for requisitioned immovable property, when revised under the governing requisition law, retained the same character as the original recurring compensation and was treated as rent-like receipt for house property taxation under section 23 of the Income-tax Act, 1961. The enhanced amount was therefore taxable as income from house property in the earlier assessment years. Reassessment under section 147(b) was also valid because definite information about the escapement emerged only after the original assessments, and the material in the assessee's accounts was too vague and incomplete to bar reopening. Case-Laws Income Tax Tue, 31 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57996