Per Shri D.D. Vyas, Judicial Member - This is an appeal by the assessee relating to the assessment year 1981-82. The facts of the case, in brief are as under :

2. The assessee is a contractor. Sometimes in August 1959, he obtained a contract for construction of an irrigation project in Rajasthan. Accor- ding to the assessee, the execution of this contract was completed in or about May 1963 and the past payment of Rs. 1,032.56 was received by the assessee on 11-5-1964. In January 1965, the assessee sent a notice under section 80 of the Code of Civil Procedure 1908 read with sections 8 and 20 of the Indian Arbitration Act to the said State of Rajasthan, claiming that a sum of Rs. 1,20,130.50 was still due to him in respect of the aforesaid contract and that this amount together with interest of Rs. 11,820.30 should be paid to him or in the alternative the matter should be referred for arbitration. Thereafter, the matter was referred to an arbitrator who by his award dated 27-6-1972, held as under :

1. The defendant, the State of Rajasthan will pay to the claimant/plaintiff a sum of Rs. 1,21,139 for the balance payable to him in respect of the work done under the contract on Bithan