1998 (4) TMI 107

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.... J.--The Income-tax Appellate Tribunal, Ahmedabad, has referred the following question for the opinion of this court under section 256(1) of the Income-tax Act, 1961 : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in coming to the conclusion that no capital gains had accrued to the assessee merely by reason of the fact that the Collector of Surat had....

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....e was null and void, in view of the provisions of section 4 of the Gujarat Vacant Lands in Urban Areas (Prohibition of Alienation) Act, 1972, which prohibited alienation of land in any "vacant area" after the commencement of the Act, by way of sale, gift, exchange, etc. It was held that when the sale was void, there was no transfer and hence, no capital gains arose out of any transfer. The Tribuna....

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....ation made or partition effected or trust created in contravention of the said provision, shall be null and void. Therefore, the transaction in question was void ab initio and it was so declared by an order of the Collector made on March 29, 1975. Admittedly, the order of the Collector declaring that the sale transaction was null and void, was not challenged. Thus, since in the facts of this case ....