Prakash Krishna, J. - (1.) The Income Tax Appellate Tribunal Delhi has referred the following question of law under Section 27(3) of the Wealth Tax Act, 1957:Whether on the facts and in the circumstances of the case, the Tribunal was correct in law in holding that the amount of Rs. 2,00,641/- on account of interest and compensation on account of the acquisition of land could not be included in the net wealth of the assessee ?
(2.) The facts of the case in brief are as follows :Present reference relates to Assessment Year 1973-74.
(3.) Assessee was the owner of a factory known as Bimal Glass Works which he sold on 26.5.1991 to M/s Sri Veer Industries Delhi for a sum of Rs. 10,50,000/-. As agreed upon, out of the total sale consideration a sum of Rs. four lacs was received in cash at the time of execution of the sale deed and balance of Rs. 6,87,000/- (including the interest thereon) was to be paid to the assessee in instalments subsequently.;