COMMISSIONER OF INCOME TAX Vs. RAM GOPAL

JUDGEMENT

(1.) THIS is a reference by the Income-tax Appellate Tribunal, Delhi Bench ' C', under Section 256(1) of the I.T. Act, 1961 (which will hereinafter be referred to as " the Act"). The question referred to us reads as follows:

(2.) THE assessment year under consideration is 1962-63 (ending on March 31, 1962). THE assessee owned certain lands with structures thereon measuring 17,315 sq. yards at Jaipur. This land was acquired by the former State of Jaipur in two instalments. One piece of land was acquired under Section 4 of the Jaipur Land Acquisition Act, 1943, by a notification dated August 13, 1943, and possession thereof was taken by the Government on July 23, 1945. THE Land Acquisition Officer gave a cash award of Rs. 29,014-8-0 on February 5, 1944, and also recommended to the Government that another plot of land may be granted to the assessee in exchange for the land acquired over and above the cash compensation. THE cash compensation of Rs. 29,014-8-0 was paid to the assessee on July 22, 1945, but no alternative piece of land in exchange as recommended by the Land Acquisition Officer was given to the assessee.

(3.) IT is settled law that if the income has accrued during any particular year, it is not open to the assessee or the ITO to take that income into consideration in any other year.