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TMI Blog2014 (2) TMI 1120X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. At the instance of the revenue, the following question of law has been referred for the opinion of this Court by the Tribunal for the assessment year 1981-82 arising out of its consolidated order dated 26.11.1997 passed in ITA Nos.487 to 495 (ASR)/1996 in respect of assessment years 1974-75 to 1982-83 :- "Whether on the facts and in the circumstances of the case, the learned ITAT is right in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ompulsory acquisition of the land by the State Government. Thereafter, the assessee furnished returns of income for the assessment years 1984-85 to 1990-91 disclosing therein interest income as also appropriate amount of capital gain arising out of the said compulsory acquisition of land by the State Government. According to the Assessing officer, since the interest was allowed by this court right ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9.8.1993 at total income of Rs. 45,130/- plus agricultural income of Rs. 700/-. Interest under sections 139(8) and 215/217 was charged at Rs. 29,936/-. Against the interest, the asessee moved an application dated 28.7.1995 under Section 154 of the Act stating that interest was not chargeable as in the case of other co-owners, the Commissioner of Income Tax (Appeals) [CIT(A)] had held that such int ..... X X X X Extracts X X X X X X X X Extracts X X X X
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