Taxability of certain income.
(1)
Notwithstanding anything to the contrary contained in section 145, the interest received by an assessee on any compensation or on enhanced compensation, as the case may be, shall be deemed to be the income of the previous year in which it is received.(2)
Any claim for escalation of price in a contract or export incentives shall be deemed to be the income of the previous year in which reasonable certainty of its realisation is achieved.(3)
The income referred to in sub-clause (xviii) of clause (24) of section 2 shall be deemed to be the income of the previous year in which it is received, if not charged to income-tax in any earlier previous year.] [ Substituted by Act 20 of 2002, Section 60, for sub-Section (3) (w.e.f. 1.6.2002).]Previous
Sec 145A — [ Method of accounting in certain cases. [Substituted by Finance Act, 2018 (Act No. 13 of 2018), dated 29.3.2018.]
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Sec 146 — Reopening of assessment at the instance of the assessee
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