1998 (4) TMI 9

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.... R. JAYASIMHA BABU J.--- The question referred to us at the instance of the assessee arising out of assessment of its income for the assessment year 1980-81 is as to whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the sum of Rs. 1,73,343 constituted income from other sources in the hands of the assessee ? A rice mill of the assessee was take....

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....be regarded as incidental to the same. The delay in making the payment for the assets that were taken over resulted in interest being paid on the unpaid price. Interest so paid cannot be regarded as a sum which is also to be regarded as receipt which is capital in nature, as the reason for the payment of interest was only the fact that unpaid price had been retained by the transferee and intere....