TMI Blog1996 (2) TMI 46X X X X Extracts X X X X X X X X Extracts X X X X ..... (2) of the Income-tax Act, 1961, the Commissioner of Income-tax, Guntur, seeks a direction to the Income-tax Appellate Tribunal to state the case and refer the following question of law for the opinion of this court : " Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in law in holding that the lands in question are agricultural lands and capital gai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , 1977, the date of taking possession. On further appeal by the assessee, the Tribunal held : (a) that the land was an agricultural land ; and (b) that the gains from the land did not accrue in the previous year relevant to the assessment year 1978-79. The Commissioner of Income-tax, Guntur, had filed the application under section 256(1) of the Income-tax Act, but that application was dismissed. H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s taken on January 12, 1967, by invoking the urgency clause under section 17 of the Land Acquisition Act, as such capital gains had been assessed in the assessment year 1967-68. In our view that judgment has no application to the facts of the present case inasmuch as in the present case possession was not taken by invoking the urgency clause under section 17 of the Land Acquisition Act. Therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (2) of section 17 of the Land Acquisition Act. It was contended that mere taking of possession by itself did not bring about the vesting. However, where possession was taken either before the initiation of the acquisition proceedings or during the course of acquisition proceedings otherwise than by invoking sub-section (1) or sub-section (2) of section 17 of the Land Acquisition Act, if the award ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns would be in the assessment year 1980-81 (1981-82 ?). In this view of the matter, the Tribunal is right in holding that there could be no doubt that in the previous year, relevant to the assessment year 1978-79, no capital gain had arisen as there had been no transfer of land within the meaning of section 2(14) read with sections 45 and 47 of the Income-tax Act. Thus, the Tribunal is right in co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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