LAWS(CAL)-1990-4-33

NARAYAN PRASAD KUNDU Vs. COMMISSIONER OF INCOME TAX

Decided On April 17, 1990
NARAYAN PRASAD KUNDU Appellant
V/S
COMMISSIONER OF INCOME-TAX Respondents

JUDGEMENT

(1.) The following three questions of law of which two questions at the instance of the assessee and one question at the instance of the Revenue, have been referred to this court by the Tribunal under Section 256(1) of the Income-tax Act, 1961 : Questions referred at the instance of the assessee :

(2.) The assessment year involved in this reference is the assessment year 1967-68, for which the relevant period of account is the financial year ending on October 31, 1966.

(3.) The facts found by the Tribunal as narrated in the statement of case are as under : The status of the assessee is an individual. Certain plots of land belonging to the assessee and utilised by him for brick manufacturing business were acquired by the West Bengal Government under the provisions of the Land Acquisition Act. The Government took possession of the land on August 25, 1956. The Land Acquisition Collector determined the compensation at Rs. 1,533, which was received by the assessee on October 20, 1956. Dissatisfied with the award given by the Land Acquisition Collector, the assessee sought reference to the District Judge, Hooghly, and the Additional District Judge, Hooghly, by award dated June 26, 1966, determined the compensation under different heads as below : <FRM>JUDGEMENT_740_ITR204_1993Html1.htm</FRM>