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Showing contexts for: S. RAMALINGAM in N.C. Rangesh And Ors. vs Inspector General Of Registration, ... on 22 March, 1990Matching Fragments
23. S. Ramalingam, J. has held recently in an unreported decision in K.V. Kishore v. The Appropriate Authority Income-tax Department, Madras and others, W.P. No. 4537 of 1988, dated 15.3.1990, that Chapter XX-C of Income-tax Act, 1961 cannot be applied taking the total consideration of the collective shares. In the case, the value of each share was less than Rs. 10 lakhs and what was sold was the individual undivided share in the said property.
24. 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 as illegal and invalid.