RAJ PAL SINGH vs COMMISSIONER OF INCOME TAX HARYANA

The Supreme Court addressed the issue of the date of accrual of capital gains in relation to land acquisition compensation under the Income Tax Act, 1961. The court held that capital gains should be charged to income tax based on the date of the award of compensation rather than the date of notification for acquisition. This decision overturned the High Court's disapproval of the ITAT's order, affirming that the timing of possession and lease status were relevant to the tax implications.