The Commissioner Of Income Tax v. The Shivram Co-Op.housing Society Ltd

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTIONINCOME TAX APPLICATION NO.181 OF 2000 The Commissioner of Income Tax Vs. The Shivram Co-op.Housing Society Ltd. ..Respondent ..Applicant Mr.Ashok Kotangale for the Applicant.None for the Respondent. P.C. CORAM :- DR.S.RADHAKRISHNAN &V.C.DAGA, JJ. DATE : 20TH MARCH, 2007 1.Heard the learned Counsel for the Applicant. By this Application, the following substantial question of law is sought to be raised: "In the facts of the case and in law, whetherthe learned members of the Tribunal werejustified in holding that the possession ofthe plot of land admeasuring 1672 sq.mts., wasgiven in stages and hence transfer of capitalasset has taken place in stages as providedunder Section 2(47)(v) and accordingly capitalgains has to be charged in the relevant yearsas returned by the assessee withoutappreciating the facts that the possession ofone single plot of 1672 sq.mts., cannot begiven in stages by bits and pieces on thebasis of one single agreement dated 26thJune,1992?" question of law. Accordingly, the Application stands disposed of. (V.C.DAGA,J.) (DR.S.RADHAKRISHNAN,J.)