COMMISSIONER OF INCOME TAX Vs. SHRI CHAND

JUDGEMENT

(1.) IN these three references, an identical question has been referred by the Tribunal for the opinion of this Court. The question reads as under : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that no capital gain was assessable on the ground that the agricultural land in village Nangal Dewat belonging to the assessee did not fall within the definition of 'capital asset' under s. 2(14)(iii) of the IT Act, 1961 -

(2.) IT may be noted that the Tribunal considered the decision in the case of Surjan Singh of Nangal Dewat and rendered the decision. Against the decision of the Tribunal, the Revenue approached this Court and the case in CIT vs. Surjan Singh & Ors. (2002) 178 CTR (Del) 547 : (2003) 260 ITR 351 (Del). The question raised in the aforesaid appeal reads as under : "Whether, on the facts and in the circumstances of the case, capital gains arising on transfer of agricultural lands in village Nangal Dewat, Delhi, is chargeable to tax -

(3.) THE Court answered the question in the affirmative, i.e., in favour of the Revenue and against the assessee with no order as to costs. Since the question is the same, lands are of the same village, in view of the aforesaid decision, we decide the question in favour of the Revenue and against the assessee with no order as to costs.