2019 (5) TMI 1241

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..... PONDENTS (BY SRI Y.V. RAVIRAJ, ADVOCATE) G. NARENDAR J., J U D G M E N T Heard the learned senior counsel Sri Seshachala along with Sri G.M. Gangadhar learned counsel for the appellant and Sri Y.V. Raviraj, Senior standing counsel for the Revenue in detail. 2. The substantial question of law that arises for consideration is: "Whether the appeal requires to be remanded in the light of the fac .....

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..... wherein the Hon'ble Apex Court was pleased to lay down the law that the computation of income sought to be made on receipt basis. 4. It is not in dispute that under the amended provision of sub-section 37 of section 10 of the Income Tax Act the income in the case of an assessee, being an individual or a Hindu undivided fami ly, any income chargeable under the head "Capital Gains" arising from the .....

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..... Tax Act which undoubtedly came to be inserted vide amendment dated 01.04.2005 and the provision of Section 145A came to be substituted with effect from 01.04.2010. 7. In that view of the matter, the substantial question of law is answered in the affirmative. 8. Accordingly, the appeal is allowed in part. The order under challenge is set aside. The appeal is remitted back to the competent authori .....

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