https://www.taxtmi.com/caselaws?id=18140 In non-urgency land acquisition, vesting for capital gains purposes occurs on the date of the award, not on earlier possession, where section 17 of the Land Acquisition Act is not involved. The Andhra Pradesh High Court treated the question whether the land was agricultural as one of fact and held that no referable question of law arose. Applying the prior Division Bench ruling on vesting, the court concluded that capital gains accrued only on the award date, which was 25 March 1981, so no capital gain arose in the previous year relevant to assessment year 1978-79. The section 256(2) reference application therefore failed. en-us Wed, 07 Feb 1996 00:00:00 +0530 Tue, 29 Sep 2009 10:48:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18140 In non-urgency land acquisition, vesting for capital gains purposes occurs on the date of the award, not on earlier possession, where section 17 of the Land Acquisition Act is not involved. The Andhra Pradesh High Court treated the question whether the land was agricultural as one of fact and held that no referable question of law arose. Applying the prior Division Bench ruling on vesting, the court concluded that capital gains accrued only on the award date, which was 25 March 1981, so no capital gain arose in the previous year relevant to assessment year 1978-79. The section 256(2) reference application therefore failed. Case-Laws Income Tax Wed, 07 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18140