2006 (2) TMI 111

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....e-tax Appellate Tribunal in W.T.A. No. 66(Mds)/2004 dated July 14, 2005. The Revenue is the appellant. The assessment year involved is 1992-93. The assessee received compensation from the Housing Board, Tirupathur, TATC for the lands acquired and interest was accruing on such compensation. The State Government filed an appeal challenging the said compensation and the same is pending. The sub-cour....

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....16) of the Income-tax Act, which clearly provided the mode of calculation to be adopted irrespective of the fact whether the appeals are pending or not? 2. Whether, on the facts and in the circumstances of the case, the Income-tax Tribunal is right in law in holding that in the acquisition proceedings relating to the assessee's land made by the State Government and payment of interest on addition....

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....been accepted by the State Government and it had preferred an appeal objecting to the enhancement, the said additional compensation received, could not be treated as part of the compensation received for the transfer of the land until it is finally determined by the High Court or the Supreme Court. If the appeal of the State is allowed the assessee is bound to refund the amount and hence, the same....