COMMISSIONER OF INCOME TAX Vs. JAYANTILAL SARKARLAL GANDHI

JUDGEMENT

(1.) THE following question of law has been referred by the Tribunal to this Court under s. 256(1) of the IT Act, 1961 ( " the Act" ) :

(2.) THE assessment year involved was 1980-81 for which the relevant previous year was the calendar year 1979.

(3.) AGAINST this award both the assessee and the Land Acquisition Collector preferred appeals to the Calcutta High Court. The High Court fixed the monthly compensation at Rs. 1,600 and further ordered that interest at the rate of six per cent shall be payable on the enhanced amount of compensation from the date of possession till the date of payment. The interest amount came to Rs. 21,295. The ITO treated the amount of interest as "income from other sources" in the assessment order.