1996 (9) TMI 112

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rsuant to the orders passed by this court in Civil Rule No. 39(M) of 1979, the Income-tax Appellate Tribunal (for short, "the Tribunal"), has referred the following question under section 256(2) of the Income-tax Act, 1961 (for short, "the Act"), for opinion of this court : " Whether, on the facts and in the circumstances of the case and on a proper construction of section 2(47), section 45 and....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the quantum of such compensation had not been determined. He, therefore, held that there could be no question of ascertaining the profits under section 41(2) of the Act and long-term capital gains at the hands of the assessee at that juncture and that question would only arise when the said quantum was actually determined as being receivable by the assessee on the basis of the Government's adjudi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....case the amount claimed ought to have been regarded as capital gains and assessment ought to have been made. On the other hand, Mr. K. K. Dey, learned counsel appearing on behalf of the assessee-company, refutes the submission. According to him, the amount having not been determined, the question of determination of capital gains does not arise. On the rival contentions of the parties it is to ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ctor shall, thereafter, cause the order passed under sub-section (1) of section 9 to be served in such manner as may be prescribed on the owner of the land, and also on the tenant or the occupant in cases where the owner is not in occupation of the land and also a notice to the same effect stating that claims to compensation for all interests in the land may be made to him within such time as may ....