Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 1977 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1977 (3) TMI 73 - ITAT MADRAS-DExtract: .......dly resulted in extinguishment of some rights of the assessee in the property, it constitutes a transfer within the meaning of s. 2(47) of the IT Act, 1961 and as the sale of agricultural land preceded the purchase of agricultural lands, s. 54-B(ii) is attracted and there is no liability to capital gains. 10. In the result, the appeal is dismissed.
|