2003 (2) TMI 62 - HC - Income Tax

Capital gains - "(i) Whether Tribunal was justified in concluding that the appellant had transferred the property situated at Gamdevi during the previous year relevant to the assessment year 1996-97? - (ii) Whether the Tribunal's conclusion that the appellant had transferred the property situated at Gamdevi during the previous year relevant to the assessment year 1996-97 was so unreasonable that no person properly instructed could ever have arrived at the same? - (iii) Whether, the Tribunal's conclusion that the appellant transferred the property situated in Gamdevi in the previous year relevant to the assessment year 1996-97 was arrived at by considering irrelevant circumstances and without appreciating and considering the relevant factual material and was contrary to the material and the evidence of record was thereby vitiated - Question No. (i) is answered in the negative, i.e., in favour of the assessee and against the Department. In view of our answer to question No. (i), it is not necessary to answer question No. (ii) quoted above. As far as question No. (iii) is concerned, we answer the said question in the affirmative, i.e., in favour of the assessee