COMMISSIONER OF INCOME TAX Vs. TRUSTEES OF HEH THE NIZAM'S MUKARRAMJAH TRUST FOR EDUCATION & LEARNINGS

JUDGEMENT

(1.) This case has been referred under Section 256 of the Income Tax Act, 1961 (hereinafter referred to as 'said Act') by the learned Income Tax Appellate Tribunal, Hyderabad, on the application made by the Revenue by order dated 06-01-1993 for the opinion of this Court on the following questions:

(2.) While reading the above two questions, we are of the view that the second question is absolutely redundant and no opinion is called for in the event the first question is answered by expressing opinion.

(3.) The fact leading to filing of this case is as follows: The assessee-Trust acquired property known as Kothi Asafia by an oral gift from the settler Prince Mukarram Jah Bahadur on 29-12-1972. The settler got this property by inheritance on the death of his grandfather Nizam Osman Ali Khan with the liability of payment of estate duty of his grandfather. Thus it was subjected to first charge under Section 74(1) of the Estate Duty Act. The Government of Andhra Pradesh acquired this property under the provisions of Land Acquisition Act, 1894 and while doing so, had taken possession on 23-09-1981. However, the compensation of Rs.30.19 lakhs was awarded by notice dated 04-02- 1983.