2002 (12) TMI 60

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....pursuance of the directions of this court, the Income-tax Appellate Tribunal has stated a case and referred the following question of law for our consideration: "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law and had valid materials to hold that the interest amount received by the assessee in respect of additional compensation awarded by co....

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....tax Officer to compute the income attributable to the previous year only and restricted the amount of interest taxable for that assessment year. As against the order of the Commissioner of the Income-tax (Appeals), the Revenue carried the matter in appeal before the Tribunal. The Tribunal, following a decision of the Supreme Court in the case of CIT v. T. N. K. Govindrajulu Chetty [1987] 165 IT....

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....ollowing its earlier ruling in CIT v. T.N.K. Govindrajulu Chetty [1987] 165 ITR 231 held that where the compensation awarded under the Land Acquisition Act was enhanced by the order of the court on a reference under section 18 of the Act or on further appeals, the interest on enhanced compensation cannot be taxed all in a lump sum as having accrued on the date on which the court passed the order f....