1990 (6) TMI 34

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... lowing question of law for the decision of this court : "Whether, the Tribunal was right in finding that 'the unregistered written agreement dated January 26, 1973, is a sale itself and that, therefore, the capital asset was transferred on January 26, 1973, for a specific price of Rs. 6,25,000' and was the Tribunal right in finding that 'the capital gain is to be assessed on that basis' ?" We .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rea in the schedule and capital gains exigible to tax arose during the relevant accounting period relevant to the assessment year 1973-74. The order of the Appellate Tribunal, dated December 18, 1978 in I. T. R. Nos. 241-293/ Coch. of 1976-77 was the one rendered in the case of the other co-owner, the father-in-law of the assessee. At the instance of the other co-owner, question of law, similar to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... er this aspect of the question in the affirmative, against the assessee and in favour of the Revenue. We decline to answer the other limbs of the question. Our decision in 1. T. R. No. 107 of 1987 (M. D. Joseph v. CIT [1990] 187 ITR 112) will apply with equal force herein also regarding those aspects. We make this position clear. The reference is answered against the assessee and in favour of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X