COMMISSIONER OF INCOME TAX Vs. JANHAVI S. DESAI

JUDGEMENT

(1.) With the consent of the parties, we proceed to hear the appeal filed under section 260A of the Income Tax Act, 1961 and the cross-objections finally.

(2.) The appeal is admitted on the following substantial question of law:-

(3.) In or about the year 1942, the respondent's father acquired the entire immovable property from his father i. e. the respondent's grand-father. The respondent's father expired in the year 1988, leaving behind a will bequeathing the property to his wife and the respondent in equal shares. The respondent's mother expired on 21.02.2000 leaving behind a will bequeathing her 50% share in the property to the respondent.