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TMI Blog1987 (7) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... tax Appellate Tribunal has referred the following question of law, for the decision of this court, under section 256(1) of the Income-tax Act, 1961: "Whether, on the facts and circumstances of the case, the entirety of Rs. 44,453 being the interest awarded to the assessee on the enhanced compensation, by the judgment and decree of the learned Subordinate Judge of Ernakulam dated 19-10-1970 in L.A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9, 1970. A sum of Rs. 1,35,150 was awarded as enhanced compensation. Interest on such enhanced compensation, from the date of taking possession to the date of payment, amounted to Rs. 44, 453. For the assessment year 1974-75, the assessee offered Rs. 4,444 (1/10th of the interest aforesaid as relating to the year of account) to be assessed. The Income-tax Officer held that the entire interest accr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o tax proportionately in each year, raised by the assessee, was negatived. The Appellate Tribunal placed reliance on the earlier decision of the Tribunal in I.T.A. No. 501 (Coch)/72-73. Thereafter, at the instance of the assessee, the above question of law has been referred for the decision of this court. We heard counsel for the assessee/applicant, Mr. Warriyar, as also counsel for the Revenue, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 985, were not uniform. The Appellate Tribunal had no occasion to appreciate the plea of the assessee, in the light of the aforesaid decision of the High Court as also the Supreme Court decisions referred to therein. On the totality of the facts and circumstances of the case, we are of the view that the matter requires reconsideration. It is for the Appellate Tribunal to apply the relevant law to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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