Search Results Page
Search Results
1 - 10 of 18 (0.39 seconds)Section 256 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax vs V.A. Trivedi on 28 January, 1987
28. The Appellate Assistant Commissioner and the Tribunal were more than justified in highlighting the fact that the reference land were situate in a heavy industrial zone and that the said lands were not in fact used or intended to be used for agricultural purposes at the relevant time since several years. The Appellate Assistant Commissioner also recorded a finding of fact based on relevant evidence that at least 10 acres of the land out of 25 acres was in fact used for non-agricultural purposes by Larsen and Toubro Limited since the year 1960, i.e., for seven years prior to the date of transfer of the land. If the relevant tests laid down by the Supreme Court Sarifabibi's case and the test laid down by this court in CIT v. V. A. Trivedi are to be applied to this case as they ought to be, it would become obvious that the finding of fact arrived at by the Income-tax Officer, the Appellate Assistant Commissioner and the Tribunal cannot be characterised as perverse or unsupported by evidence or erroneous in law. It is not possible to accept the submission made by learned counsel for the assessee that the authorities below did not apply the correct test or misdirected themselves in law or that the finding of cat arrived by the Tribunal was not supported be evidence.
Smt. Sarifabibi Mohmed Ibrahim And ... vs Commissioner Of Income-Tax, Gujarat on 14 September, 1993
5. Having regard to the ratio of the latest judgment of the Supreme Court in the case of Smt. Sarifabibi Mohmed Ibrahim v. CIT , dated September 14, 1993, and the applicability thereof to the facts of this case, we have no hesitation in holding that the reference lands were not "agricultural lands" on the date of transfer whatever might have been the character of the land in the past.
The Land Acquisition Act, 1894
The Wealth-Tax Act, 1957
Commissioner Of Income-Tax vs Principal Officer, Laxmi Surgical Pvt. ... on 25 November, 1992
31. We have heard learned counsel on both sides at length. We have gone through the large number of authorities cited at the Bar. Learned counsel for the assessee relied on the Division Bench judgment of this court in CIT v. Principal Officer, Laxmi Surgical Pvt. Ltd. .