9911796707
TMI Blog2007 (1) TMI 167X X X X Extracts X X X X X X X X Extracts X X X X ..... n of law has been referred for opinion of this court by the Income-tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for short, "the Tribunal") arising out of the order dated July 22, 1996, in I. T. A. No. 350/Chandi/91 for the assessment year 1986-87 : "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in holding that the amount of interest on enhanced compensation received in June, 1985 in consequence upon judgment of distt. judge and the amount having been utilised/invested in discretion of the assessee, was not includible in the total income of the assessee ?" 2. Briefly the facts, as mentioned in the statement of the case, are that the agricultural land belonging to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fficer to bring under assessment only that amount of interest which accrue to the assessee during the assessment year in question. For that purpose, the Commissioner of Income-tax (Appeals) relied upon the decision of the hon'ble Supreme Court in Rama Bai v. CIT [1990] 181 ITR 400. The Revenue was not aggrieved against the order passed by the Commissioner of Income-tax (Appeals) directing the assessment of only interest pertaining to the assessment year in question. However, the assessee, being still aggrieved, preferred an appeal before the Tribunal. The Tribunal relying upon the decision of the hon'ble Supreme Court in Hindustan Housing and Land Development Trust Ltd. [1986] 161 ITR 524 accepted the appeal of the assesses and dire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... v. Goyal Charitable Trust [1995] 215 ITR 672 (Delhi) ; Chief CIT v. Smt. Shantavva [2004] 267 ITR 67 (Karn) and CIT v. Abdul Mannan Shah Mohammed [2001] 248 ITR 614 (Bom). A special leave petition in a similar case was dismissed by the hon'ble Supreme Court reported in CIT v. Janabai Vithobai Dudhe [2004] 268 ITR (St.) 215. In Abdul Mannan Shah Mohammed's case [2001] 248 ITR 614, 615 (Bom), it was held as under : "Secondly, whether the said amount could be taxed when it was specifically deposited by the Government in appeal to the High Court. In the case of CIT v. Hindustan Housing and Land Development Trust Ltd. [1986] 161 ITR 524, the Supreme Court has held that when the Government has appealed against the award an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bombay High Court while following Hindustan Housing and Land Development Trust Ltd. [1986] 161 ITR 524 (SC) dismissed the appeal filed by the Revenue where the Revenue sought to tax the compensation and interest before proceedings for determination of the compensation attained finality. In Goyal Charitable Trust's case [1995] 215 ITR 672, 673, the Delhi High Court while relying upon Hindustan Housing and Land Development Trust Ltd. [1986] 161 ITR 524 (SC) rejected the petition filed by the Revenue under section 256(2) of the Income-tax Act (for short, "the Act") seeking to refer the following question of law for opinion of the court (at page 673 of 215 ITR) : "Whether, on the facts and in the circumstances of the case, the Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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