1987 (2) TMI 3 - SC ORDER

Whether Tribunal was right in holding that the income from interest which had accrued to the respondent on the compensation payable to him in view of the acquisition of land belonging to him for the assessment years 1955-56 and 1956-57 should be spread over the respective years to the extent to which it could be deemed to have accrued in those years - mercantile system of account was the basis on which the interest income accrued, the HC was right in answering the question in assessee's favour