https://www.taxtmi.com/caselaws?id=25330 In compulsory acquisition cases, capital gains arise when possession is taken and the property vests in the Government, not merely on the date of the acquisition notification. On the facts noted, the land was treated as non-agricultural, the market value as on 1 January 1954 was accepted on evidence, and the resulting gain was computed accordingly. The transfer was therefore brought to tax in the previous year relevant to assessment year 1965-66, and the alternative contention based on the notification date was rejected. The Tribunal's factual findings on classification and valuation were upheld because no legal error was shown. en-us Thu, 02 Apr 1987 00:00:00 +0530 Thu, 28 Jan 2010 10:12:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25330 In compulsory acquisition cases, capital gains arise when possession is taken and the property vests in the Government, not merely on the date of the acquisition notification. On the facts noted, the land was treated as non-agricultural, the market value as on 1 January 1954 was accepted on evidence, and the resulting gain was computed accordingly. The transfer was therefore brought to tax in the previous year relevant to assessment year 1965-66, and the alternative contention based on the notification date was rejected. The Tribunal's factual findings on classification and valuation were upheld because no legal error was shown. Case-Laws Income Tax Thu, 02 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25330