2007 (12) TMI 467

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..... ing substantial question of law: Whether on the facts and in the circumstances of the case the Tribunal was justified in holding that the capital gains offered by the assessee has to be taken into account for the assessment year 1992-93 even though the sale deed has been registered subsequently and permission to cut trees standing on the jamma land was obtained by the assessee in the next ass .....

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..... he standing trees in the next assessment year therefore the capital gain tax has to be computed for the year 1992-93 in view of the handing over of the possession of the entire land under section 53A of the Transfer of property act. Aggrieved by the order of the Assessing officer an appeal was preferred before the Commissioner of Income Tax (Appeals) which appeal was allowed in part. Thereafter, a .....

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..... s to be computed in view of the provisions of section 2(47) read with section 269UA(d) of the Income Tax Act. If the Tribunal, following the aforesaid two provisions of law, given the relief to the assessee, we do not find any error committed by the Tribunal. Accordingly, we answer the question of law against the Revenue. (5) Accordingly, this appeal is dismissed. Therefore, in view of the dism .....

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