COMMISSIONER OF INCOME TAX Vs. LAXMAN SWAROOP GOEL

JUDGEMENT

(1.) This appeal has been preferred under Section 260A of Income Tax Act, 1961 (hereinafter referred to as 'the Act') proposing following substantial questions of law arising out of order dt. 18th June, 2009 of the Income-tax Appellate Tribunal, Delhi Bench 'G', New Delhi (hereinafter referred to as 'the Tribunal') passed in ITA No. 1442/Del/2009 in respect of asst. yr. 2005-06:

(2.) The Assessee is the father of the children who are owners of the land, inherited by them from their maternal grandfather. Enhanced compensation and interest thereon were received on acquisition of the said land. The income received by way of interest was assessed as capital gain in the hands of the father of the minor children under Section 64(1A) of the Act. The CIT(A) upheld the plea of the Assessee that amount received had not attained finality and income of the minor children from inherited property could not be clubbed in the hands of the father. The above view has been affirmed by the Tribunal. It was observed:

(3.) We have heard learned Counsel for the parties.