issues with civicrm_financial_account.contact_id not being created in some tarballs

During testing of upgrade from 3.1 to 4.2.6, Pradeep found:
No contact_id field is present in civicrm_financial_account table but in upgrade field was created (v3.2.alpha4)

Action: I am confused by this as I see a line in xml/schema/Finance/FinancialAccount.xml showing it was added in 4.1, though this line was added much later than the field (r43505). From my understanding, this field should be present in new tarballs. Could you verify that your 4.2 tarball was created prior to r43505. To fix this issue please add a check on upgrade for it and add it if it is not present.

Kurund, could you review this approach before assigning back to me?