Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1971 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1971 (12) TMI 20 - HC - Income TaxAcquisition of land - award was made subsequently - Whether Tribunal was justified in holding that the amount received by the assessee by way of interest till the date of the award is capital receipt - we are unable to hold that the amount paid to the assessee and allowed by the Tribunal as a deduction represented anything other than compensation for deprivation of property. The property was not vested in the Government till the award was passed on August 31, 1962. The nature of the possession changed from that date and, we think, the Tribunal refused to allow deduction of interest payable from that date till September 6, 1962, rightly
|