BHIKA RAM Vs. UNION OF INDIA

JUDGEMENT

(1.) HEARD finally.

(2.) RULE DB.

(3.) THE issue is no more res integra in view of same pronouncement of the Supreme Court in Bikram Singh vs. Land Acquisition Collector (1997) 139 CTR (SC) 475 : (1997) 224 ITR 551 (SC), wherein their Lordships have held that such an amount of interest on delayed payment of compensation determined under the Land Acquisition Act was a revenue receipt exigible to income - tax under S. 4 of the Act. However, the claimant would be entitled to spread over the income for the period for which payment came to be made, so as to compute the income for assessing tax for the relevant accounting year. In view of the law so laid down the petitioner is not entitled to the relief prayed for.