Description:
Interest on enhanced compensation of land is liable to be taxed once it was received .
Dy CIT vs. Gopal Ramnarayan Kasat (2011) 240 CTR 266/54 DTR 228 (Bom.) High Court ).
Source:
1. www.aiftponline.org
2. AIFTP TIMES Volume.No.2 July, 2011,Page No. 5.
Our comment:
Accrued interest on enhanced compensation on acquisition of land is taxable on receipt basis
