2010 (8) TMI 153

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....cate for the appellant. AJAY KUMAR MITTAL, J., This order will dispose of Income-tax Appeal Nos. 354 and 355 of 2010, filed at the instance of the assessee, as identical questions of law have been raised in these appeals. The facts, however, have been taken from ITA No. 354 of 2010. This appeal filed under Section 260-A of the Income Tax Act, 1961 (for short "the Act") at the instance of ....

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....e by the assessee/ appellant, as son of the assessee/appellant has no source of independent income, is legally sustainable in the eyes of law? 3-Whether in the facts and circumstances of the present case, the impugned orders A-1 to A-3 are legally sustainable in the eyes of law? The facts necessary for adjudicating the present appeal are that the appellant received compensation in 1998 in re....

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....rate appeals before the Tribunal. The Tribunal dismissed both the appeals vide Annexure A-3. This is how the assessee is again in appeal before us. We have heard learned counsel for the appellant and have gone through the record with his assistance. The issue that arises for consideration in this appeal is, whether the assessee who has purchased agricultural land in the name of his son from ....

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....e. A reading of s. 54B of the Act nowhere suggests that the legislature intended to advance the benefit of the said section to an assessee who purchased the agricultural land even in the name of a third person. Wherever the legislature intended it to be so, it had specifically provided under the provision. The term "assessee" is qualified by the expression "purchased any other land for being used ....