9911796707
TMI Blog2012 (12) TMI 218X X X X Extracts X X X X X X X X Extracts X X X X ..... d has been stayed by this Court vide order dated 24th September, 1990 in appeal preferred by the Collector, Varanasi - Staying the operation of the award would mean that the assessee became entitled to nothing till the matter is finally decided by this Court - interest income could not be taxed during the assessment years in question - order of the Tribunal does not suffer from any legal infirmity ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -?" Briefly stated the facts giving rise to the present appeal are as follows: The appeal relates to the assessment year 1989-90. The assessee is the owner of agricultural land situated at Bhagwanpur, Varanasi out of which 4.5 bighas approximately of land was acquired under the Ganga Pollution Control Unit by the Special Land Acquisition Officer, Varanasi. The Collector made an award of Rs. 4,13 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer the assessee contended that no interest has accrued and, therefore it cannot be brought to tax. The assessing officer did not accept the submission made by the assessee and taxed the income of Rs. 1,68,441/- on account of interest due on enhanced compensation during the relevant assessment year. In the first appeal filed by the assessee, the Commissioner of Income Tax (Appeal) deleted the ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. Sri D. Awasthi submitted that as the interest had accrued on enhanced compensation the Tribunal was not justified in upholding the deletion of interest. The submission is wholly misconceived. The assessee became entitled to the enhanced compensation and interest pursuant to the award dated 26th February, 1990 passed by the Additional District Judge, Varanasi which award has been stayed by thi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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