5,00,0001 as companypensation for the property.
1,28,716/ is assessable as income under any of the provisions of the Act ?
The Judgment of the Court was delivered by Shah, J. The Income tax Appellate Tribunal submitted two questions for the opinion of the High Court of Madras Whether the sum of Rs.
Appeals by special leave from the judgment and order dated October 29, 1962 of the Madras High Court in Tax Case No.
If the answer is in the affirmative, the assessment years in which the amount falls to be assessed by suitable apportionment.
The first question was answered by the High Court in the affirmative.
CIVIL APPELLATE JURISDICTION Civil Appeals Nos.
2,40,000/ as companypensation for acquisition of the property and interest at the rate of 6 thereon from the date, of numberification for acquisition, and the dispute relating to companypensation payable to the assessees was referred to the Chief Judge of the Court of Small Causes, Madras.
1,28,716/received as interest being part of companypensation were number assessable to tax, whereas the Commissioner claimed that the Income tax Officer was justified in assessing the amounts in the years in which they were received.
195 of 1960.
The assessees have appealed to this Court.
By order dated January 30, 1944, the Collector of Madras, ,,exercising power under r. 75A of the Defence of India Rules, 1939, requisitioned a property known as Lutterals Gardens belonging to the assessees.
The High Court also awarded interest at the rate of 6 on the amount of companypensation from the date of numberification for acquisition.
The assessees declined the offer made by the Collector to pay Rs.
1425 and 1426 of 1966.
The property companytinued to remain under requisition till it vested in the Government of Madras absolutely in companysequence of an order made on May 24, 1949 by the Collector of Madras under s. 5 of the Requisitioned Land Continuance of Powers Act, 1947, declaring.the intention of the Government of Madras to acquire that property.
Swaminathan and R. Gopalakrishnan, for the appellant in both the appeals .
V. Viswanatha Iyer, T. A. Ramachandran, S. P. Nayyar for R. N. Sachthey, for the respondent in both the appeals .
