1996 (7) TMI 5

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..... arded interest. The question arose in the assessment proceedings, whether the interest awarded is income and is liable to be included in his assessment - hold that interest is income and it has to be assessed as a business receipt - - - - - Dated:- 12-7-1996 - Judge(s) : B. P. JEEVAN REDDY. and SUHAS C. SEN. ORDER Delay condoned. Special leave granted. We have heard counsel for the .....

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..... earlier decision in Govinda Choudhury and Sons v. CIT [1977] 109 ITR 497: "Whether, on the facts and in the circumstances of the case, interest awarded by an arbitrator is income to be assessed to tax under the Act?" It is now brought to our notice that the decision of the Orissa High Court in Govinda Choudhury and Sons v. CIT [1977] 109 ITR 497 was brought to this court in appeal and has sinc .....

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