PALLAVARAJHA Vs. PRINCIPAL COMMISSIONER OF INCOME-TAX-VI

JUDGEMENT

(1.) The petitioner is aggrieved against the order of the first respondent dated 20.03.2017, passed under Section 264 of the Income Tax Act, 1961, in respect of the assessment year 2008-09.

(2.) Through the impugned proceedings, the first respondent rejected the petition filed by the assessee under Section 264 with further direction to the Assessing Officer to treat the lands in question as non-agricultural in nature and therefore, as capital assets, in the hands of the assessee, exigible to capital gain tax.

(3.) The following are the facts and circumstances, as projected by the petitioner, which have lead to filing of the present writ petition: