Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2003 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2003 (8) TMI 37 - HC - Income TaxWhether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that interest amounting to Rs. 1,17,975 received on arrears of salary after grant of higher pay scale by the Punjab and Haryana High Court is not taxable ? - The present is not a case where the assessee might have been awarded interest under a statute sequent upon grant of arrears of salary on account of higher pay scale, but in fact paid interest in the discretion of this court vested in it under article , of the Constitution of India. The grant of interest was in the absolute discretion of the court and so would be the rate of interest in a case of this kind – Thus, the question, as referred by the Tribunal and as extracted above is answered in favour of the assessee and against the Department
|