1991 (3) TMI 117 - HC - Income Tax

Summary

The High Court of Andhra Pradesh ruled that only the interest relating to the year 1975-76 is assessable as the income of the assessee for the assessment year 1976-77. The Supreme Court reversed the decision of the High Court, stating that interest on enhanced compensation accrued year after year and cannot be assessed in one lump sum. The decision favored the assessee, and the case was disposed of with no costs.