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The paper presents the transition of universe from early decelerating phaseto current accelerating phase with viscous fluid and time dependentcosmological constant $(\Lambda)$ as source of matter in Bianchi-V space-time.To study the transit behaviour of universe, we have assumed the scale factor asincreasing function of time which generates a time dependent decelerationparameter (DP). The study reveals that the cosmological term does not changeits fundamental nature for $\xi$ = constant and $\xi=\xi(t)$, where $\xi$ isthe coefficient of bulk viscosity. The $\Lambda(t)$ is found to be positive andis decreasing function of time. The same is observed by recent supernovaeobservations. The physical behaviour of universe has been discussed in detail.

Cosmological constant dominated transit universe from early deceleration to current acceleration phase in Bianchi-V space-time