Allahabad H.C : This is an appeal under s. 260A of the IT Act, 1961, by which the order of the Tribunal dt. 31st Jan., 2003, has been challenged

High Court Of Allahabad

Iqbal Hussain vs. CIT

Section 48, 260A

M. Katju & Umeshwar Pandy, JJ.

IT Appeal No. 88 of 2003

29th August, 2003

JUDGMENT

BY THE COURT :

Heard learned counsel for the appellant and learned counsel for the Department. This is an appeal under s. 260A of the IT Act, 1961, by which the order of the Tribunal dt. 31st Jan., 2003, has been challenged. After hearing learned counsel for the parties we find no merit in this appeal. We have carefully perused the impugned order of the Tribunal. The Tribunal has from paras. 9 to 15 of the impugned order considered all aspects of the matter in great detail and has held that the area in which the land in question was located was not fully developed and no civic amenities were available in 1981. It has also been held that the land in question was developed after a period of 14 years from 1st April, 1981, after the master plan was announced and there was not much potentiality for the use of the land for development purpose as on 1st April, 1981. The land in question is situate on the road from Gorakhpur to Pipriah Kasba and this road is neither a National highway nor a State highway. The land in question was not surrounded by developed colonies in 1981. It was agricultural land upto 1994. In our opinion, these are findings of fact which we cannot interfere with in an appeal under s. 260A of the IT Act.

In fact the Tribunal has fixed the maximum rate of rupees one lakh per acre instead of Rs. 70,000 per acre for determining the market value and cost of acquisition as on 1st April, 1981, for the purpose of computing the capital gain under s. 48 of the IT Act. The Tribunal has already been indulgent to the appellant by granting the maximum rate.

There is no force in this appeal and it is dismissed.

[Citation : 264 ITR 179]

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