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TMI Blog1999 (10) TMI 730X X X X Extracts X X X X X X X X Extracts X X X X ..... lso in the light of the decision of the Supreme Court in G. M. Omer Khan v. CIT (Addl.) [1992] 196 ITR 269, when does transfer take place under the Income-tax Act for the purpose of capital gains and the Tribunal is right in the view it took ? A brief reference to the factual aspects is necessary for adjudication of the question. In terms of the notification published on July 19, 1981, under the provisions of the Kerala Land Acquisition Act, 1961 (in short the KLA Act ), 12.24 cents of land in Alwaye Municipality belonging to the assessee was acquired by the Government of Kerala for Alwaye Water Works. The assessee was awarded compensation of ₹ 1,08,836 in respect of the land acquired. The Assessing Officer initiated proceedings ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Government on the date of publication of the notification, but it vests in the Government only after taking actual possession by declaring to do so. He has also pointed out the provisions of section 17 of the Central Act. Under sections 18 and 19 of the K. L. A. Act, power to take possession and special powers in cases where land is needed urgently have been dealt with. Section 18 of the K. L. A. Act provides that when the Collector has made an award under section 11 or section 16, he may take possession of the land which shall thereupon vest absolutely in the Government free from all encumbrances. Section 19 of the K. L. A. Act deals with cases where land is needed urgently. Sections 18 and 19 of the K. L. A. Act read as follows : 18 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h other damage shall be allowed for in awarding compensation for the land under the provisions herein contained. (3) In every case under sub-section (1), the Collector may, on a request in writing by all the parties interested and on furnishing sufficient security, after such summary enquiry as he may think fit to institute and after satisfying himself that the parties are lawfully entitled to receive the compensation, pay a sum not exceeding fifty per cent. of the probable compensation that may be finally awarded in respect of such acquisition, provided that no payment shall be made where there is a dispute as regards the person entitled to the compensation. The advance compensation paid under this sub-section shall be adjusted towards ..... X X X X Extracts X X X X X X X X Extracts X X X X
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