1992 (7) TMI 55

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....acts and in the circumstances of the case, the Hon'ble Income-tax Appellate Tribunal, Delhi Bench 'E', was justified in holding that the sum of Rs. 23,309 representing the amount of compensation initially awarded and which remained in dispute till August 23, 1982, and which was received on April 5, 1984, was includible in the net wealth of the assessee for the assessment year 1977-78 for which the....

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....3,309 was offered as compensation by the Collector. A reference under section 18 of the Land Acquisition Act was filed whereby the petitioner sought enhanced compensation. This dispute with regard to enhancement of compensation was decided on August 23, 1982. The contention of the petitioner is that, on the relevant valuation date, i.e., March 31, 1977, pertaining to the assessment year 1977-78, w....

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....e being applied would not arise in such a case. The petitioner chose not to receive this amount because a reference had been filed under section 18 of the Act for enhancement of the compensation. There was nothing in law which prevented the petitioner from receiving this sum of Rs. 23,309 under protest and without prejudice to his claim under section 18 of the Act. In our opinion, the sum of Rs. 2....