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of <h1>Special Leave Petition Dismissed with Delay Condoned - Legal Grounds Not Met</h1> <h3>DINESH D. RANKHA Versus THE COMMISSIONER OF INCOME TAX, BANGALORE AND ANOTHER</h3> The SC of India dismissed the Special Leave Petition due to lack of legal grounds for interference, but condoned the delay. - DINESH D. RANKHA Versus THE ... Computation of capital gain - whether there is no valid transfer? - Held that:- HC order confirmed [2015 (7) TMI 482 - KARNATAKA HIGH COURT] no justification in concluding that there is no transfer of FAR relating to 1 acre 6 guntas during the relevant year. The Appellate Tribunal is also not justified in holding that no income has accrued during the year as no construction has taken place relating to such FAR. The reasons assigned by the Income Tax Appellate Tribunal while setting aside the orders passed by the Assessing Officer and the Appellate Commissioner cannot be accepted - Decided in favour of the Revenue. The Supreme Court of India dismissed the Special Leave Petition after finding no legal grounds for interference. Delay was condoned.
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