https://www.taxtmi.com/caselaws?id=49327 Zamindari Abolition Compensation Bonds were not legal tender for discharging agricultural income-tax arrears. Although the Uttar Pradesh Zamindari Abolition and Land Reforms Act and the compensation rules allowed arrears to be recovered by deduction from compensation money payable to an intermediary, the statutory scheme showed that payment of compensation by bonds satisfied the State's liability and the bonds were not cashable before maturity. Their negotiable character did not oblige the State to accept them for tax payment, so refusal to accept the bonds was valid. en-us Mon, 22 Feb 1965 00:00:00 +0530 Wed, 20 Aug 2014 19:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49327 Zamindari Abolition Compensation Bonds were not legal tender for discharging agricultural income-tax arrears. Although the Uttar Pradesh Zamindari Abolition and Land Reforms Act and the compensation rules allowed arrears to be recovered by deduction from compensation money payable to an intermediary, the statutory scheme showed that payment of compensation by bonds satisfied the State's liability and the bonds were not cashable before maturity. Their negotiable character did not oblige the State to accept them for tax payment, so refusal to accept the bonds was valid. Case-Laws Indian Laws Mon, 22 Feb 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49327