CHIEF COMMISSIONER OF INCOME TAX Vs. SHANTAVVA

JUDGEMENT

(1.) THIS appeal under Section 260a of the Income Tax Act, 1961 (Act for short) by the Revenue is against the order of the Income Tax Appellate Tribunal, Bangalore Bench in ITA No. 439/bang/1998 relating to assessment year 1994-95.

(2.) RESPONDENTS land measuring 2 acres 14 guntas in Gadag Betgeri was acquired under notification dated 24-4-1997 for extension of market yard. The Land Acquisition Officer made an award at the rate of 75 paise per sq. ft. in regard to the acquired land. Respondent sought increase in compensation. The Reference Court increased the compensation to Rs. 8. 50 per sq. ft. The judgment and award of the Reference Court was challenged in MFA No. 837/1987 before this Court. This Court by judgment dated 7-10-1992 determined the market price as Rs. 7/- per sq. ft plus solatium and interest.

(3.) THE Judgment of this Court was challenged by the Land Acquisition Officer before the Supreme Court in CA No. 12884/1996. In terms of the interim orders of this Court and the Supreme Court, respondent received four sums of Rs. 2 lakhs each on 1-4-1993, 13-6-1993, 14-7-1993 and 30-11-1993 by furnishing security Court by order dated 23-9-1996 set aside the orders of this Court and the Reference Court and remanded the matter to the Reference Court for fresh determination of the market value with the following directions: the cases are remitted to the civil Court for decision afresh after giving an opportunity to the parties to adduce evidence afresh and then decide the market value according to law. Pending these appeals since the respondents have withdrawn the amount withdrawn will be adjusted when the award was passed by the reference Court.