SITA NANDA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) AT the instance of the assessed, the following question has been referred for the opinion of this court under Section 256(1) of the Income -tax Act, 1961 (for short 'the Act') by the Income -tax Appellate Tribunal, Delhi Bench 'A', New Delhi (in short 'the Tribunal') :

(2.) THE dispute relates to the assessment year 1972 -73.

(3.) THERE was no appearance on behalf of the assessed when the matter was called. We have heard learned counsel for the Revenue. It was submitted by learned counsel for the Revenue that the Tribunal has recorded a factual finding to the effect that the amount was paid as interest on delayed payment of unearned increase and did not form part of the unearned increase and, thereforee, was not encompassed by the provisions of Section 48(i) of the Act.