9911796707
TMI Blog2002 (12) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... be assessed on accrual basis only, and, accordingly, the interest due for the year alone should be assessed for the assessment year 1982-83?" - we answer the question of law referred to us in the affirmative in favour of the assessee and against the Revenue. - - - - - Dated:- 10-12-2002 - Judge(s) : N. V. BALASUBRAMANIAN., K. RAVIRAJA PANDIAN. JUDGMENT The judgment of the court was deliver ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the year 1981 and also the interest on the compensation. The Income-tax Officer was of the view that the entire interest received in the previous year relevant to the assessment year 1982-83 must be assessed and, accordingly, assessed the entire interest amount of Rs. 1,08,755 in the assessment year 1982-83. The Commissioner of Income-tax (Appeals) did not agree with the views of the Income-tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aw stated earlier has been referred to us by the Tribunal. Notice was ordered and it was served on the respondent. Mr. T. Ravi Kumar, learned junior standing counsel appearing for the Revenue, fairly submits that the issue raised in the question is covered against the Revenue by the decisions of the Supreme Court in Rama Bai v. CIT [1990] 181 ITR 400 and K. S. Krishna Rao v. CIT [1990] 181 ITR 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty [1987] 165 ITR 231 will squarely apply. No other point has been urged by learned counsel for the Revenue. Following the said decisions of the Supreme Court in the cases of Rama Bai v. CIT [1990] 181 ITR 400 and K. S. Krishna Rao v. CIT [1990] 181 ITR 408 cited supra, we answer the question of law referred to us in the affirmative in favour of the assessee and against the Revenue. In the circums ..... X X X X Extracts X X X X X X X X Extracts X X X X
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