TMI Blog2007 (6) TMI 207X X X X Extracts X X X X X X X X Extracts X X X X ..... ch had become final due to the bar of limitation prior to April 1,1989, and this position was equally applicable to re-assessments proposed on the basis of orders passed under the Income-tax Act or under any other law - 680 to 683 of 2007 - - - Dated:- 18-6-2007 - P. D. DINAKARAN and P. P. S. JANARTHANA RAJA JJ. J. Narayanasamy, for the appellant. JUDGMENT The judgment of the court ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions of Section 150 of the Income-tax Act? (c) Whether on the facts and in the circumstances of the case, the compensation and interest amounts received by the assessee as per the apex court decision dated 6.1.1995 can be assessed to tax in the year of receipt?" 2. The brief facts that led to the filing of the above appeal are as under. The assessee was in the business of distributio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal following the decision of the Apex Court in K. M. Sharma v. Income-tax Officer [2002] 254 ITR 772, allowed the appeals. Hence, the present appeals. 3. The learned Standing Counsel appearing for the Revenue fairly concedes that the issues raised in the above appeals are covered by the decision of this Court in Commissioner of Income-tax v. Vellore Electric Corporation Ltd. [2006] 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f assessments, which have attained finality on the expiry of the period of limitation prescribed under Section 149, refers to the whole of sub-section (1), intending thereby to insulate all assessments which have become final and may have been found liable for re-assessment or re-computation on the basis of either orders in proceedings under the Income-tax Act or orders of Courts passed under any ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the order of the Tribunal, which followed the decision of the Supreme Court, requires no interference and accordingly the appeals stand dismissed." 5. In view of the above settled proposition, we do not find any substantial question of law that arises for our consideration. Accordingly, the appeals are dismissed. Consequently, M.P.Nos.1 of 2007 are dismissed. - - TaxTMI - TMITax - Inco ..... X X X X Extracts X X X X X X X X Extracts X X X X
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