https://www.taxtmi.com/caselaws?id=21613 The court upheld the decision that capital gains arising from compulsory land acquisition should be assessed in the husband's hands under section 64 of the Income-tax Act, 1961, and not eligible for relief under section 54. The judgment emphasized the legislative intent to prevent tax avoidance through asset transfers and clarified that the capital gains did not qualify for relief as they did not arise from the sale of a house property. The ruling favored the Department, highlighting the importance of interpreting tax laws to ensure fair tax assessments and prevent tax avoidance schemes. en-us Wed, 11 Sep 1991 00:00:00 +0530 Fri, 23 Mar 2018 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21613 The court upheld the decision that capital gains arising from compulsory land acquisition should be assessed in the husband's hands under section 64 of the Income-tax Act, 1961, and not eligible for relief under section 54. The judgment emphasized the legislative intent to prevent tax avoidance through asset transfers and clarified that the capital gains did not qualify for relief as they did not arise from the sale of a house property. The ruling favored the Department, highlighting the importance of interpreting tax laws to ensure fair tax assessments and prevent tax avoidance schemes. Case-Laws Income Tax Wed, 11 Sep 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21613