1981 (4) TMI 16

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... llowing two questions for opinion of the court: " 1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in coming to the conclusion that the assessee became aware of its liability to pay interest only in April, 1972, when only the party had filed a suit for execution of the compromise decree or from the date of compromise decree ? 2. Whether, on the facts and in .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... by either mode, the Board was entitled to levy execution of the decree with interest at 9 per cent. on outstandings calculated from the date of default. The terms of the compromise also stipulated that 10 per cent. of the cost of vehicles to be supplied by the assessee to the Board would be taken by way of adjustment towards the satisfaction of the decree. Execution case was filed on April 11, 197 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... instalments in cash as also by adjustment out of supplies to be made in future of motor vehicles at the stipulated rate of 10 per cent. It is the assessee's case that certain supplies were made, but the adjustment had not been made for years and only when the Board started levying execution, that it was found out that there has been default and, therefore, the interest became payable. Non-provisio .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X