Court : Kolkata
Decided on : Mar-04-1997
Reported in : [1997]226ITR34(Cal)
..... years that the route permits acquired some value because of various factors, namely, development of roads, passenger traffic, frequency of buses, etc. the value of the permit could not be evaluated as on the date of acquisition. in such circumstances, the consideration in terms of money as realised on its transfer could not be ..... permitting the revenue to alter its stand taken before the tribunal and the lower authorities, that is not permissible. the assessing officer considered the cost of acquisition of the subject trees at nil, that was not disputed before the commissioner of income-tax (appeals) and was not controverted before the tribunal when the ..... . the word 'spontaneous' means unaided ; voluntary ; growing naturally without cultivation ; occurring without external cause ; which presupposes, that there was neither any cost of acquisition nor any cost of growing. this aspect of the matter was accepted by the assessing officer despite the deed of purchase of the year, 1978 being in the .....
Tag this Judgment!Court : Kolkata
Decided on : Mar-04-1997
Reported in : (1997)140CTR(Cal)454
..... of years that the route permits acquired some value because of various factors, namely, development of roads, passenger traffic, frequency of buses, etc. the value of the permit could not be evaluated as on the date of acquisition. in such circumstances, the consideration in terms of money is realised on its transfer could not be ..... miscellaneous application. the word 'spontaneous' means unaided; voluntary; growing naturally without cultivation; occurring without external cause; which presupposes, there was neither any cost of acquisition nor any cost of growing. this aspect of the matter was accepted by the ao despite the deed of purchase of the year 1978 being in the record ..... it then added that the tribunal was influenced by the fact that ao while taxing the receipt as capital gain, did not attribute anything towards cost of acquisition and, therefore, on the basis of material on record, the tribunal held that the assessee by selling trees realised capital and, therefore, receipt was of .....
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