https://www.taxtmi.com/caselaws?id=27114 The High Court ruled in favor of the assessee, a Hindu Undivided Family (HUF), stating that long-term capital gains arising from land compensation in the assessment year 1971-72 were not taxable due to the title vesting in the Government upon possession. However, for the assessment year 1972-73, the Court sided with the Revenue, holding that the capital gains were taxable as possession had not transferred title until that year. The judgment emphasized the importance of possession and title transfer in determining tax liability for capital gains from land acquisition. en-us Wed, 21 Sep 1983 00:00:00 +0530 Wed, 10 Feb 2010 17:48:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27114 The High Court ruled in favor of the assessee, a Hindu Undivided Family (HUF), stating that long-term capital gains arising from land compensation in the assessment year 1971-72 were not taxable due to the title vesting in the Government upon possession. However, for the assessment year 1972-73, the Court sided with the Revenue, holding that the capital gains were taxable as possession had not transferred title until that year. The judgment emphasized the importance of possession and title transfer in determining tax liability for capital gains from land acquisition. Case-Laws Income Tax Wed, 21 Sep 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27114