TMI Blog2008 (4) TMI 769X X X X Extracts X X X X X X X X Extracts X X X X ..... aon. The assessment for the asst. yr. 1997-98 was completed at an income of ₹ 12,49,410 vide order dt. 31st Jan., 2003, under s. 143(3) of the Act against the returned income of ₹ 1,70,640. 3. Aggrieved against the assessment order, assessee preferred an appeal before the Commissioner of Income-tax (Appeals) [hereinafter referred to as the 'CIT(A)'], who vide his order dt. 3rd March, 2004, dismissed the appeal and confirmed the additions made in the assessment order. 4. The penalty proceedings under s. 271(1)(c) of the Act were initiated in terms of notice dt. 31st Jan., 2003, requiring the assessee to show cause as to why penalty should not be imposed. Vide letter dt. 4th Feb., 2005, the assessee was given an oppo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of Smt. Rama Bai vs. CIT (supra) as well as in the case of CIT vs. Hindustan Housing Land Development Trust Ltd. (1986) 58 CTR (SC) 179: (1986) 161 ITR 524(SC) in the absence of any change in the relevant statutory provision and accordingly, the same is to be assessed on accrual basis from year to year. This decision of the Special Bench of Tribunal as well as the judicial pronouncements of Hon'ble apex Court relied upon by the Tribunal in the said decision clearly shows that the claim of the assessee about the chargeability of interest on enhanced compensation on accrual basis was based on a possible view and making of such claim bona fide on the basis of a possible view, in our opinion, could not be treated as concealment o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this Court passed in IT Appeal No. 490 of 2007, decided on 26th March, 2008 [reported as CIT vs. Hardwari Lal (HUF) Ors. (2008) 7 DTR (P H) 76'Ed.] and IT Appeal No. 579 of 2007, decided on 4th Feb., 2008 [reported as CIT vs. Tek Ram (HUF) (2008) 14 DTR (P H) 65'Ed.] respectively. He has not addressed any arguments with regard to question Nos. 3 and 4 and has stated that in fact these questions are covered by question No. 2 only. 10. In ITA No. 490 of 2007, decided on 26th March, 2008 (supra), this Court has held that interest on enhanced compensation would not accrue till the issue of enhanced compensation is finally decided and thereafter on attaining the finality of determination of enhanced compensation by the Court, the in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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