COMMISSIONER OF INCOME TAX-21 Vs. SAVITRIDEVI RINGSHIA

JUDGEMENT

(1.) THIS appeal under Section 260 -A of the Income Tax Act, 1961 (the Act) challenges the order dated 28 January 2008 passed by the Income Tax Appellate Tribunal (the Tribunal). This appeal is in respect of Assessment Year 1998 -99.

(2.) MR . Suresh Kumar, learned counsel appearing for the revenue urges the following question of law for our consideration:

(3.) THE Tribunal, by the impugned order held that the amount received by the respondent assessee by an interim order dated 6 May 1997 was subject to final resolution of the dispute. Thus, it held that the amount received under an interim order cannot be considered as an income of the assessee as there is yet no absolute right to receive the amounts. The Tribunal further records that the B.M.C. had also filed a counterclaim and it was likely that the respondent -assessee would have to pay more than what has been given to her by the interim order. In the above view, the Tribunal placed reliance on the judgment of the Supreme Court in the case of C.I.T. v/s Hindustan Housing & Land Development Trust Ltd., reported in : 161 ITR 524 (SC) to hold that no income had accrued to the respondent -assessee during the subject assessment year.