https://www.taxtmi.com/caselaws?id=16485 A sale declared null and void under the Gujarat Vacant Lands in Urban Areas (Prohibition of Alienation) Act, 1972 could not give rise to capital gains, because a transaction void ab initio has no legal existence and therefore no effective transfer in law. The Collector had already treated the land sale as void, and that order was not challenged. On those facts, the court held that taxable capital gains could not arise from a non-existent transfer, and the issue was answered against the Revenue. en-us Thu, 16 Apr 1998 00:00:00 +0530 Tue, 08 Sep 2009 11:25:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16485 A sale declared null and void under the Gujarat Vacant Lands in Urban Areas (Prohibition of Alienation) Act, 1972 could not give rise to capital gains, because a transaction void ab initio has no legal existence and therefore no effective transfer in law. The Collector had already treated the land sale as void, and that order was not challenged. On those facts, the court held that taxable capital gains could not arise from a non-existent transfer, and the issue was answered against the Revenue. Case-Laws Income Tax Thu, 16 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16485