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Showing contexts for: S. RAMALINGAM in N.C. Rangesh And Others vs Inspector General Of Registration And ... on 22 March, 1990Matching Fragments
34. S. Ramalingam J. has held recently in an unreported decision in K. V. Kishore v. Appropriate Authority, Income-tax Department - since reported in [1991] 189 ITR 264 (Mad) (W.P.No. 4537, of 1988 dated 15-3-1990), that Chapter XXC of the Income-tax Act, 1961, cannot be applied taking the total consideration of the collective shares. In that case, the value of each share was less then Rs. 10 lakhs and what was sold was the individual undivided share in the said property.
35. In view of my conclusion arrived at, I hold that the circulars issued in these cases are ex facie illegal and as such the impugned circulars are declared illegal and invalid.