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TMI Blog1967 (7) TMI 54X X X X Extracts X X X X X X X X Extracts X X X X ..... sense be regarded as damages - - - - - Dated:- 31-7-1967 - Judge(s) : RAMAPRASADA RAO., VEERASWAMI. JUDGMENT The judgment of the court was delivered by VEERASWAMI J.- These two references, which relate to the assessment years 1952-53 and 1953-54, raise subtantially the same questions as to the character of Rs. 15,000 that accrued to the assessee in each of the assessment years but recove ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee was driven to a suit for specific performance of the agreement to sell. He got a decree as prayed for, which was, however, reversed by the High Court of Kerala. The assessee succeeded in his appeal, to the Supreme Court; which restored the decree of the trial court and directed that there would be a decree for mesne profits against such of the respondents as might have been in possession o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the two years was included in his total income. The Income-tax Officer proceeded on the footing that the assessee was entitled to the mesne profits of Rs. 15,000 for each of the years as a result of the judgment of the Supreme Court. The objections of the assessee that the identical amount has suffered tax in the hands of Kotchu Wareed and that in any case the receipt was in the nature of damage ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... factory entitled to the income therefrom during the two assessment years. It necessarily follows that the receipts for the two years made by the receiver were on behalf of the person who would be rightly entitled to them. The income, therefore, was that of the assessee and was liable to charge in his hands. He is not relieved of his liability, because the income was included in the assessment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith costs, one set. Counsel's fee Rs. 250. We may add that, if the assessee has recovered or received any amount in any of the years from persons who has been in wrongful possession of the factory, the question whether such amounts as damages or mesne profits could be regarded as income chargeable to tax is a different matter on which we express no opinion in these references. - - TaxTMI - T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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