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Commissioner Of Income-Tax vs T.V. Suresh Chandran And Ors. on 29 March, 1979

"CIT vs. T. V. Suresh Chandran (1980) 121 ITR 985 (Ker) 84 was a case under s. 269C of the IT Act. The transferors were co-owners having inherited the property from ancestors. They transferred the property to four persons with one deed. The competent authority initiated proceedings for acquisition of the property by treating the entire property as one. It was held that each one of the four transferees had absolute right to the property so transferred to him and in the property transferred to one, the other transferees had no right. The right of each of the transferees to the property was absolute. The fact that the transferees may make common use of the property purchased by them is a factor which would have no bearing on the purchase itself. Had the sale been effected by four instruments the case urged by the Revenue may not have arisen. It would make no difference merely because the four sales were covered by one instrument. Sec. 269C was held to be inapplicable."
Kerala High Court Cites 18 - Cited by 18 - Full Document
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