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2003 (3) TMI 17 - MADRAS HIGH COURTScope of section 41(2) - Assets acquired by the State - On March 21, 1972, the Government issued an order - order made by the Government in March, 1972, is an unilateral order by which it came forward to disburse a part of the compensation which it was required to pay and the precise quantum of which had not as yet been ascertained either by agreement or by recourse to arbitration. Such voluntary disbursement of part of the unascertained amount which the Government had to pay for the assets taken over is, therefore, not capable of being regarded as an amount which had become due and payable as the result of an agreement. The fact that the assessee received the amount so disbursed by itself would not be sufficient to hold that the amount that was received was the result of an agreement between the parties, in order to bring it within the ambit of section 41(2)
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