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SC on Taxability of Interim Enhanced compensation & interest received
Case Law Details
- Case Name
- CIT Vs Chet Ram (HUF) (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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Section 45(5) read as a whole [including clause (c)] not only deals with reworking as urged on behalf of the asseess but also with the change in the full value of the consideration (computation) and since the enhanced compensation/consideration (including interest under Section 28 of the 1894 Act) becomes payable/paid under the 1894 Act at different stages, the receipt of such enhanced compensation/consideration is to be taxed in the year of receipt subject to adjustment, if any, under Section 155 (16) of the 1961 Act, later on. Hence, the year in which enhanced compensation i...
