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SUPREME COURT OF INDIA
R.S. Pathak, CJI., M.M.Dutt, Ranganath Misra, JJ.
Commissioner Of Income, Madras
Versus
T.N.K.Govinda Ra.Ju Chetty
Case No. : 299 , 300 of 1974
Date of Decision : 2/12/87
Claim of compensation – Acquisition of land – Circumstances evidence - Only question in these appeals is whether the Income Tax Appellate tribunal was right in holding that the income from interest which had accrued to the respondent on the compensation payable to him in view of the acquisition of land belonging to him for the assessment should be spread over the respective years to the extent to which it could be deemed to have accrued in those years – Held, Court have considered matter carefully and we think that having regard to the circumstances of the case, including the fact that the mercantile system of account was the basis on which the interest income accrued, the High court was right in answering the question in favor of assessed and against the revenue – Appeal dismissed
(1) THE only question in these appeals is whether the Income Tax Appellate tribunal was right in holding that the income from interest which had accrued to the respondent on the compensation payable to him in view of the acquisition of land belonging to him for the assessment years 1955-56 and 1956-57 should be spread over the respective years to the extent to which it could be deemed to have accrued in those years. We have considered the matter carefully and we think that having regard to the circumstances of the case, including the fact that the mercantile system of account was the basis on which the interest income accrued, the High court was right in answering the question in favour of the assessee and against the revenue.
(2) THE appeals are, therefore dismissed. In the circumstances there is no order as to costs.
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