( 1 ) IN the present reference under Section 256 (1) of the I. T. Act, 1961, the question posed before us is as follows :"whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the whole amount of interest of Rs. 86,208, received during the previous year relevant to the assessment year 1962-63, was not liable to be assessed in the assessment year 1962-63, and that only the proportionate amount which pertained to the relevant previous year should be assessed in that year ?"

( 2 ) THIS reference relates to the assessment year 1962-63, the corresponding accounting period of which ended on March 31, 1962. The assessee derived income from house property and also interest. The assessee owned a property situated at Behala being Plot Nos. 629, 630, 631 and 609 within the District of 24-Parganas. This property was acquired by the Land Acquisition Collector with effect from April 5, 1950, under the Land Acquisition Act. A sum of Rs. 1,33,933 was paid to the assessee towards the compensation amount. Further, a sum of Rs. 86,208 was paid on April 26, 1961, towards the interest under Section 34 of the Land Acquisition Act