Gujarat High Court
Amrutbhai Atmarambhai Patel (Huf) vs Income Tax Officer on 12 June, 2019
Author: J.B.Pardiwala
Bench: J.B.Pardiwala, A.C. Rao
C/TAXAP/77/2019 ORDER
IN THE HIGH COURT OF GUJARAT AT AHMEDABAD
R/TAX APPEAL NO. 77 of 2019
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AMRUTBHAI ATMARAMBHAI PATEL (HUF)
Versus
INCOME TAX OFFICER
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Appearance:
DARSHAN R PATEL(8486) for the Appellant(s) No. 1
for the Opponent(s) No. 1
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CORAM: HONOURABLE MR.JUSTICE J.B.PARDIWALA
and
HONOURABLE MR.JUSTICE A.C. RAO
Date : 12/06/2019
ORAL ORDER
(PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) 1 The draft amendment is allowed. The same shall be carried out at the earliest.
2 This Tax Appeal is admitted on the following substantial questions of law:
"(1) Whether on the facts and in law, the Tribunal has substantially erred in law in giving retrospective effect to the provisions of section 50C inserted w.e.f. 1.4.2003 for upholding taxability of capital gains for the Assessment Year 20112012?
(2) Whether on facts and in law, the Tribunal has serious erred in ignoring the provisions of section 2(47) in relation to "transfer" for the purpose of upholding levy of capital gains taxation based upon application of section 50C of the Income Tax Act, 1961 for the Assessment Year 20112012?Page 1 of 2 Downloaded on : Wed Jul 03 07:27:19 IST 2019
C/TAXAP/77/2019 ORDER (3) Whether, on facts and in law, the Tribunal has erred in ignoring the "principle of consistency" while upholding taxation of capital gains in the case of the coowner by ignoring the fact that other co owners the fact that other coowners are not taxed on application of section 50C on same facts and circumstances and for the same transaction under consideration?
(4) Whether on facts and in law, the Tribunal has substantially erred in upholding levy of capital gains taxation in spite of categorical finding that consideration for sale amount is arrived on the basis of "out of Court settlement" by the buyer and the seller?
(5) Whether on facts and in law the Tribunal has seriously erred in applying provisions 50C to the share of the appellant in the receipt of the amount from out of court settlement when the same was not received on transfer of land or buildings?"
(J. B. PARDIWALA, J) (A. C. RAO, J) CHANDRESH Page 2 of 2 Downloaded on : Wed Jul 03 07:27:19 IST 2019