1986 (1) TMI 152 - AT - Income Tax

Summary

The appeal was against the CIT's order under s. 263 regarding taxation of accrued interest on compensation. The ITAT Chandigarh held that interest on compensation should be taxed in the relevant assessment year in which it accrued. The order of the CIT was vacated as it was not erroneous. The appeal of the assessee was allowed.