https://www.taxtmi.com/caselaws?id=27355 The court held that the capital gains from the transfer of lands should be assessed in the assessment year 1968-69, not 1969-70. The court determined that the assessee had chosen the financial year ending March 31, 1968, as the relevant previous year for capital gains based on its conduct and disclosures. The court rejected the Tribunal's view and remitted the matter to determine the nature of the lands sold. The assessee was ordered to pay the costs of the Revenue. en-us Wed, 14 Dec 1983 00:00:00 +0530 Fri, 12 Feb 2010 12:43:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27355 The court held that the capital gains from the transfer of lands should be assessed in the assessment year 1968-69, not 1969-70. The court determined that the assessee had chosen the financial year ending March 31, 1968, as the relevant previous year for capital gains based on its conduct and disclosures. The court rejected the Tribunal's view and remitted the matter to determine the nature of the lands sold. The assessee was ordered to pay the costs of the Revenue. Case-Laws Income Tax Wed, 14 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27355