2019 (2) TMI 290

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.....Jaikrishna For the Revenue : Smt.A.S.Bindhu, Sr.DR ORDER PER GEORGE GEORGE K, JM : These appeals at the instance of the assessee are directed against the consolidated order of the CIT(A) dated 21.12.2017. The relevant assessment years are 2007-2008, 2008-2009 and 2009-2010. The assessee has also filed stay applications seeking to stay the recovery of outstanding tax arrears. 2. Common issues....

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....eme of amalgamation. 5. Aggrieved by the assessments, the assessee preferred appeals to the first appellate authority. The learned CIT(A) following the judgment of the Hon'ble Kerala High Court in assessee's own case for assessment year 1991-1992 (ITA No.135 of 2000 judgment dated 08.04.2008) held that the assessee was liable for capital gains. 6. The assessee being aggrieved by the order of the....

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.... be liable for capital gains as it had acquired this property free of cost, is rejected. 8. The next issue raised in all these appeals is with regard to the fair market value as on 01.04.1981 adopted at Rs. 269 per cent of land. The assessee had claimed the fair market value as on 01.04.1981 at substantially higher, which was rejected by the A.O. and by the CIT(A). The relevant finding of the CIT....