ANANTA LAL SEN Vs. COMMISSIONER INCOME TAX

JUDGEMENT

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

(2.) THE assessment year involved is the asst. yr. 1973-74 for which the corresponding period of account is the year ending on 16th Oct. ,1972.

(3.) THE assessee appealed to the AAC and contended that the ITO was not justified in including the sum of Rs.32,250 in the total income of the assessee for the year under appeal. It was urged that the proportionate interest accrued to the assessee at the time when the fixed deposits were matured, i.e., on 20th Nov., 1968 and 21st Feb.,1969 respectively.