2015 (10) TMI 1010

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....ottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-fareast-language:EN-US;} MR. N. KUMAR AND MR. B. VEERAPPA, JJ. FOR THE APPELLANT : SRI. K V ARAVIND, ADV.) FOR THE RESPONDENT : SRI. K R PRASAD, ADV.) JUDGMENT The Revenue has preferred this appeal against the order passed by the Tribunal, holding the amount received by the assessee in pursuance to the award of the arbitrator, is to be taxed during the previous year, relevant to the assessment year in which the finality of the decision ....

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....mentioned in those two cheques, on the ground that the said amount can be brought under tax net during the previous year relevant to the assessment year in which the finality of the decision of the Hon'ble High Court of Andhra Pradesh, is delivered. Aggrieved by the said order , the Revenue preferred an appeal to the Tribunal. The Tribunal has affirmed the said judgment of the First Appellate Authority. Aggrieved by the said order, the Revenue has preferred this appeal. 3. The substantial question of law which arises for our consideration is as under: Whether the Appellate Authorities were correct in holding that the interim award of Rs. 80 lakhs received by the assessee pursuant to the order of Hon'ble Andhra Pradesh High Court on 16/11....

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....ation, there is a right of appeal by the Government to the High Court, and the High Court may either disallow that claim or reduce the compensation. As against that judgment, there is a further right of appeal to the Supreme Court. The assessee also can appeal against the insufficiency of the enhanced compensation. Can it be said that the final determination by the highest court of the compensation would entitle the Income-tax Officer, notwithstanding the period of limitation fixed under the Income-tax Act, to reopen the assessment in which he had included the initial compensation awarded by the Collector and recomputed the entire income on the basis of the final compensation? We do not think there can be any justification for such a propos....