1987 (10) TMI 13

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... us by the Income-tax Appellate Tribunal, Cochin Bench "1. Whether, on the facts and in the circumstances of the case, and in view of the fact that the Land Board not having questioned the validity of the gift to the assessee, the Appellate Tribunal is right in law and fact in coming to a different conclusion based on suppositions and surmises and in deleting the value of 2.3 acres from the net .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ion of the extent of the land owned or held by the Maharaja and that till now no reopening proceedings have been taken by the Land Board and that the assessee is in possession and enjoyment of the property even today. " On the basis of these facts, the Tribunal surprisingly concluded that the asset in question was not an asset in the hands of the assessee and that it had no value whatever. T .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X