EKLINGJI TRUST Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal, Jaipur Bench, Jaipur (hereinafter referred to as "the Tribunal"), has referred an important question of law which has arisen out of its common order dated September 9, 1977, relating to the four assessment years 1970-71 to 1973-74,

(2.) THE controversy is whether the amounts received by the assessed in the previous years relating to the aforesaid assessment years by way of compensation for the jagir lands of the assessee resumed by the State are capital receipt or revenue receipt.

(3.) SECTION 21 of the Act deals with resumption of jagir lands. The consequences of the resumption have been laid down in SECTION 22 of the Act. For the present purpose, we shall read the material part of SECTION 22(1) of the Act: