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TMI Blog1986 (7) TMI 75X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 256(2) of the Income-tax Act, 1961 (hereinafter referred to as " the Act "), in Misc. Civil Case No. 84 of 1982, the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the balance amount of compensation received by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r. On appeal, the Appellate Assistant Commissioner held that the amount of compensation awarded to the assessee by way of damages could not be taxed in the relevant assessment year. On further appeal before the Tribunal, the Tribunal upheld the view taken by the Appellate Assistant Commissioner. The application moved by the Revenue for making a reference to this court was rejected by the Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the amount of damages accrued to the assessee on May 12, 1975. In our opinion, therefore, the Tribunal was justified in holding that the amount of compensation in question received by the assessee was legally taxable when the award was made. Our answer to the question referred to this court is, therefore, in the affirmative and against the Revenue. In the circumstances of the case, parties shall ..... X X X X Extracts X X X X X X X X Extracts X X X X
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