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1972 (4) TMI 3 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the sale of the electrical undertaking to the Punjab Government falls in the assessment year 1955-56 when the undertaking was taken over by the Punjab Government by virtue of an option which was exercised in terms of the licence or whether it falls in the assessment year 1963-64 when the balance of the sale price was received by the assessee ?" - The answer to the question under consideration as aforementioned is that the amount became due in the previous year corresponding to the assessment year 1963-64 and hence the answer to the question would be in the affirmative and in favour of the revenue.
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