9911796707
TMI Blog1990 (7) TMI 166X X X X Extracts X X X X X X X X Extracts X X X X ..... eque whereas the valuation date relevant to the asst. yr. 1977-78 was 31st March, 1977. This ground of appeal was disposed of by the Bench in para 4 of its order as under: "4. We have carefully considered the arguments advanced by the parties. From a perusal of the learned CIT's order it is seen that this amount of compensation was included in the assessable wealth of the assessee on the basis of the concession made by the learned counsel for the assessee. No fresh facts are brought to our notice which would call for interference with the order passed by the learned CIT (A). In the circumstances this ground of appeal fails and the same is dismissed." As is apparent from the above order of the Tribunal, the amount of compensation was inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Delhi High Court, inter alia, requesting for issue of a writ, order or direction in the nature of certiorari or any other appropriate writ, order or direction for quashing the order of the Tribunal, dt. 29th Sept., 1987 and also to quash the order on Miscellaneous Applications filed by the assessee before the Tribunal and alternatively to pass a writ, order or direction in the nature of mandamus or any other appropriate writ order or direction in the nature of Tribunal to rectify the mistake apparent from the record in the manner and contents brought to the notice of the Tribunal by 8 Miscellaneous Applications after giving hearing to the petitioner and observing the principles of natural justice and further directing the Tribunal to pass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enhancing the amount of compensation payable to the respondent, the entire amount was in dispute in the appeal filed by the State Government. There was no absolute right to receive the amount at that stage. If the appeal was allowed in its entirety the right to payment of enhanced compensation would have fallen altogether. It was, therefore, held that the extra amount of compensation being Rs. 24,914 was not income arising or accruing to the respondent during the previous year relevant to the asst. yr. 1956-57. The learned counsel for the assessee, therefore, urged that this was a direct authority on the issue and in view of this authority of Supreme Court, the additional compensation at Rs. 23,309 could not be included in the net wealth t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was justified in including in the net wealth of the assessee the amount of Rs. 23,309 as value of the right to receive compensation over and above the amount awarded by the Land Acquisition Collector. He tried to distinguish the judgment of the Supreme Court in the case of Hindustan Housing and Land Development Trust Ltd. by submitting that was in relation to the income, whereas in the appeal before us, the issue is in reference to the includibility of the amount in the net wealth of the assessee. According to him, the judgment of the Hon'ble Supreme Court, in Mrs. Khorshed Shapoor Chenai referred to above is more relevant than that of the Hindustan Housing Land Development Trust Ltd. According to him, the amount was rightly included in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reful consideration to the rival submissions. Once again we are inclined to hold that there is no mistake apparent from record in the order of the Tribunal dt.29th Sept., 1987. Therefore, through the miscellaneous petitions the assessee has merely sought review of the said order, which is not permissible in rectificatory proceedings. Only mistakes apparent from record can be rectified under these provisions. We are in agreement with the learned Departmental Representative that the ratio of the judgment of the Supreme Court in the case of Hindustan Housing Land Dev. Trust Ltd. is not applicable to the facts of the case, in as much as, that is an authority for the purpose of assessment under the IT Act. On the contrary, the judgment in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under the WT Act. When the final amount of additional compensation awarded is available at the time of determination of the issue, it is open to which authority to take cognisance of such determination and fix the value of the right to receive compensation, which is one with reference to the date o notification and the subsequent valuation dates. In this case, the land in question were notified for acquisition under the Land Acquisition Act in some earlier years and a sum of Rs. 23,309.50 p was awarded as compensation by the Collector vide award dt.21st July, 1965i.e., before valuation date for the year under consideration i.e.31st March, 1977. As held by the Hon'ble Supreme Court in the case of Mrs. Khorshed Shapoor Chenai the value of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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