TaxTMI 
TaxTMI 
2018 (3) TMI 797
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....ction 143(2) of the Income Tax Act, 1961 (hereinafter referred to as the Act ). It appears that during the relevant previous year, the assessee had sold 2 acres and 78 cents of agricultural land at Thirutheri Village, Kattangalathur Panchayat for a sum of Rs. 8,01,00,000/- to one K.Dhanasekaran. The assessee claimed exemption from capital gain arising from sale of land on the ground that it was agricultural land. The assessee furnished certificate of the Village Officer certifying that the land was situated beyond 8 kms. from the limits of the municipality and the population was less than 10000. 4. It transpires that the assessee had not utilized the land for agricultural purpose and had shown income from business in the return of income filed for the assessment years 2006-2007 to 2012-2013. The income shown for the years in question are delineated in the table given herein below: Assessment Year Income from business/profession 2006-07 Rs.97,49,120/- 2007-08 Rs.1,56,30,293/- 2008-09 Rs.1,75,37,611/- 2009-10 Rs.86,69,050/- 2010-11 Rs.65,26,800/- 2011-12 Rs.1,08,94,797/- 2012-13 Rs.2,93,81,367/- 5. The Revenue has conten....
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.... appeal by the Appellate Tribunal before the date of establishment of the National Tax Tribunal, if the High Court is satisfied that the case involves a substantial question of law. (2)The Principal Chief Commissioner or Chief Commissioner or the Principal Commissioner of Commissioner or an assessee aggrieved by any order passed by the Appellate Tribunal may file an appeal to the High Court and such appeal under this sub-section shall be (a) filed within one hundred and twenty days from the date on which the order appealed against is received by the assessee or the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner; (b) omitted. (c) in the form of a memorandum of appeal precisely stating therein the substantial question of law involved. (2A) The High Court may admit an appeal after the expiry of the period of one hundred and twenty days referred to in clause (a) of sub-section (2), if it is satisfied that there was sufficient cause for not filing the same within that period. (3) Where the High Court is satisfied that a substantial question of law is involved in any case, it shall formula....
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....uestions of law. The Supreme Court held : "21. The phrase substantial question of law , as occurring in the amended Section 100 CPC is not defined in the Code. The word substantial, as qualifying question of law , means of having substance, essential, real, of sound worth, important or considerable. It is to be understood as something in contradistinction with technical, of no substance or consequence, or academic merely. However, it is clear that the legislature has chosen not to qualify the scope of substantial question of law by suffixing the words of general importance as has been done in many other provisions such as Section 109 of the Code or Article 133(1)(a) of the Constitution. The substantial question of law on which a second appeal shall be heard need not necessarily be a substantial question of law of general importance. In Guran Ditta v. Ram Ditta [(1927-28) 55 IA 235 : AIR 1928 PC 172] the phrase substantial question of law as it was employed in the last clause of the then existing Section 100 CPC (since omitted by the Amendment Act, 1973) came up for consideration and their Lordships held that it did not mean a substantial question of general importance but ....
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....a material bearing on the decision of the case, if answered either way, insofar as the rights of the parties before it are concerned. To be a question of law involving in the case there must be first a foundation for it laid in the pleadings and the question should emerge from the sustainable findings of fact arrived at by court of facts and it must be necessary to decide that question of law for a just and proper decision of the case. An entirely new point raised for the first time before the High Court is not a question involved in the case unless it goes to the root of the matter. It will, therefore, depend on the facts and circumstance of each case whether a question of law is a substantial one and involved in the case or not, the paramount overall consideration being the need for striking a judicious balance between the indispensable obligation to do justice at all stages and impelling necessity of avoiding prolongation in the life of any lis. (See Santosh Hazari v. Purushottam Tiwari [(2001) 3 SCC 179] .) 24. The principles relating to Section 100 CPC relevant for this case may be summarised thus : (i) An inference of fact from the recitals or contents of a ....