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2003 (11) TMI 37 - HC - Income TaxCompromise decree - "1. Whether the compromise decree is a lawful decree? - The matter was compromised in the High Court and on the basis of the terms of compromise, the compromise decree was passed. Under the circumstance, the compromise decree in first appeal, which was pending before the High Court, is a legal decree for all purposes. - Accordingly, we answer question No. 1 in the affirmative - 2. Whether the appellant has a legal right to receive the sale proceeds of 17 plots and whether the amount of sale proceeds was of revenue nature?" - In the instant case, the right to receive payment was in dispute and in view of the compromise decree in first appeal, which was pending before the High Court at Bombay, the appellant was required to return the whole of the sale proceeds of Rs. 1,25,418 to the land owner - We, therefore answer question No.2 in favour of the appellant and against the Revenue.
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