COMMISSIONER OF INCOME TAX Vs. P BALASUBRAMANIAM

JUDGEMENT

(1.) THE assessee--Sri P. Balasubramaniam--is an asses-see both in the status of a Hindu undivided family and an individual for the assessment year 1981-82.

(2.) R. A. No. 73 of 1987 is in respect of the individual assessment, whereas R. A. No. 74 of 1987 is in respect of the Hindu undivided family.

(3.) ON further appeal by the Revenue to the Tribunal, the Revenue contended that the said lands are within the stipulated limits of the Municipal Corporation and so, the Appellate Assistant Commissioner is not correct in holding that the capital gains arising on the sale of such lands is not liable to tax.