1984 (2) TMI 160

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..... ssary for the disposal of this appeal are as follows: On 21st July, 1974, the assessee sold land with building in the State of Rajasthan to his five grand sons at a consideration of Rs. 30,000. In the income-tax return he showed the cost of acquisition of the said property at Rs. 15,000 and cost of improvement at Rs. 10,000 thus showing the capital gain of Rs. 5000 only. The ITO did not accept t .....

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..... er hand it was pointed out by the authorised representative of the assessee that the AAC decided the appeal before him in accordance with the decision of this Tribunal in ITA No. 149 (Gau) of 1976-77 by which this case is covered. 6. On consideration of the materials on record, facts and circumstances of the case we are of the opinion that this case is covered by the decision in the aforesaid ca .....

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