2003 (3) TMI 43

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....- This is an appeal preferred under section 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act"). This appeal was admitted on the following substantial questions of law: "1. Whether, on the facts and circumstances of the case, learned Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal erred in giving direction to the Assessing Officer to assess the inc....

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....t Arya, learned counsel for the Revenue, made enormous strenuous endeavour to distinguish the aforesaid decision. Regard being had to the submissions raised at the Bar and the laborious attempt made by learned counsel for the Revenue and upon bestowing our anxious consideration and referring to the decision rendered in the case of Smt. Saraswati Jaiswal [2003] 264 ITR 358, we have no iota of doubt....

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....of her late mother. It was further found that the assessee has not shown the land by her own volition, but it was compulsorily acquired by the Jabalpur Developrpent Authority. When the land was compulsorily acquired by the Government, the assessee did try to maximise the compensation by way of opting to accept the developed plot as against the cash compensation. On these facts, the Income-tax Appe....

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....arly held by the apex court in G. Vankataswami Naidu v. CIT [1959] 35 ITR 594, that it would depend upon all the relevant facts and circumstances. In the case at hand, principally as questions of fact are involved, we are not inclined to call for the statement of facts from the Tribunal." As the obtaining factual matrix is similar, we are disposed of to think that the decision rendered in the c....