MAYA RASTOGI Vs. COMMISSIONER INCOME TAX

JUDGEMENT

(1.) The main question involved in these writ petitions is, should the initiation for the assessment of escaped income--on the basis of capital gains due to acquisition of Petitioner's land--be nipped in the bud at the threshold?

(2.) The Petitioner's 27,225 square yards of land was acquired by the Meerut Development Authority (the MDA) under the Land Acquisition Act in the year 1987.

(3.) The Special Land Acquisition Officer, Meerut (the SLAO) made an award on 22-2-1990. He awarded Rs. 50 per square yard. In pursuance of the award, the Petitioner received Rs. 21,26,757 as compensation on 30-6-1990.