2003 (8) TMI 32

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..... l gain under section 48 of the Income-tax Act - - - - - Dated:- 29-8-2003 - Judge(s) : M. KATJU., UMESHWAR PANDEV. JUDGMENT Heard learned counsel for the appellant and learned counsel for the Department. This is an appeal under section 260A of the Income-tax Act, 1961, by which the order of the Income-tax Appellate Tribunal dated January 31, 2003, has been challenged. After hearing lea .....

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..... surrounded by developed colonies in 1981. It was agricultural land up to 1994. In our opinion, these are findings of fact which we cannot interfere with in an appeal under section 260A of the Income-tax Act. In fact the Appellate Tribunal has fixed the maximum rate of rupees one lakh per acre instead of Rs. 70,000 per acre for determining the market value and cost of acquisition as on April 1, 1 .....

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