1999 (5) TMI 13

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..... under section 256(2) of the Income-tax Act, 1961 (for short, the "Act"), by the Commissioner of Income-tax, Chandigarh, seeking a direction to the Income-tax Appellate Tribunal, Chandigarh (for short. the "Tribunal"), to refer the following question of law to this court for opinion : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law i .....

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..... 1988. The amount of interest was received by them on July 24, 1989. Each of them filed returns of income for three assessment years, viz., 1982-83, 1983-84 and 1984-85 on May 18, 1990. The Assessing Officer issued notices to them under section 148 of the Act on January 10, 1991. The assessments were framed by the Assessing Officer under section 143(1) on the declared income. The tax had already be .....

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..... ssable income. The assessees went in appeal before the Deputy Commissioner of Income-tax, who quashed the orders whereby interest had been charged. The Tribunal upheld the appellate orders. The Tribunal found that the assessees were having income below the taxable limit for the relevant assessment years. Their income became taxable on the receipt of interest on the enhanced compensation. They rec .....

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