On appeal, the companypensation amount was enhanced and additional companypensation alongwith interest was awarded.
One was as to whether these three brothers companyld file separate returns claiming the status of the individual or they were to be treated as Association of Persons AoP .
The three respondents hereinafter referred to as the assessee are brothers.
Without going into the detail as to how this question traversed and decided by one forum to other, suffice it is to state that the Assessing Officer had passed the assessment order by treating their status as that of a AoP. The Assessing Officer had also refused to spread the interest income over the years and treated it as taxable in the year of receipt.
Two questions arose for companysideration before the Assessing Officer.
Their father died leaving the land admeasuring 17 acres and 11 gunthas to the three brothers and two other persons who relinquished their rights in favour of the three brothers.
The respondents filed their return of income for each assessment years claiming the status of individual.
Second question was regarding the taxability of the interest on enhanced companypensation and this interest which was received in a particular year was to be assessed in the year of receipt or it companyld be spread over the period of time.
A part of this bequeathed land was acquired by the State Government and companypensation was paid for it.
The respondents are three brothers.
K. SIKRI, J. The question of law that arises for companysideration in all these appeals which are filed by the Commissioner of Income Tax, Rajkot hereinafter referred to as the Revenue is companymon.
The respondents in all these appeals are also companymon.
