TMI Blog2008 (4) TMI 304X X X X Extracts X X X X X X X X Extracts X X X X ..... (1) BHOOP RAM DAGAR, HUF ( I. T. A. No. 41 of 2008) (2) CHET RAM DAGAR, HUF ( I. T. A. No. 42 of 2008) (3) ROHTASH SINGH DAGAR, HUF ( I. T. A. No. 43 of 2008) (4) BHARAT LAL DAGAR, HUF ( I. T. A. No. 44 of 2008) SATISH KUMAR MITTAL and RAKESH KUMAR GARG JJ. Yogesh Putney for the appellant. JUDGMENT The judgment of the court was delivered by RAKESH KUMAR GARG J .— CM No. 1082-CII of 2008 2. For the reasons stated in the application, delay of 38 days in refiling the appeal is condoned. 3. CM stands disposed of. ITA Nos. 41 to 44 of 2008 4. These appeals under section 260A of the Income-tax Act, 1961 (for short "the Act"), have been filed by the Revenue ag ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h case has to be viewed with its own peculiarities. In this case, no books of account have been maintained. No returns have been filed for the earlier years to declare interest income. There was indeed no parameter or yard-stick which could point out to the accrual of income in the form of interest, year to year, as the quantum on which the interest was to be calculated as also the period for which interest was to be calculated was itself fluid. The action of the Assessing Officer, therefore, bringing to tax the interest on receipt basis is upheld and confirmed." 7. Aggrieved against this order, the assessee preferred an appeal before the Tribunal. The Tribunal following the order of the Special Bench of the Tribunal in the case of De ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income-tax in one lump-sum in the year in which the order is made and, therefore, the Tribunal has erred in law while holding that the interest on enhanced compensation is taxable when the issue relating to the enhanced compensation attains its finality as the same would accrue to the assessee at that time only. On the basis of the abovesaid argument, counsel for the Revenue has further argued that the following substantial question of law arises from the order of the Tribunal for consideration of this court. "Whether, on the facts and circumstances of the case, the hon'ble Income-tax Appellate Tribunal is right in holding that assessment of interest cannot be made until the matter is finally settled by the High Court, in contradiction w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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