2001 PLP 1946 (PTD)
COMMISSIONER OF INCOME-TAX Versus KALAWATI
| Citation | 2001 PLP 1946 (PTD) |
| Forum / Court | Supreme Court of India |
| Bench Members | S. P. Bharucha, M.B. Shah and Shivaraj V. Patil, JJ |
| Parties | COMMISSIONER OF INCOME-TAX Versus KALAWATI |
| Primary Law | Income-tax |
Q1: What are the key laws and sections cited in 2001 PLP 1946 (PTD)?
This judgment primarily cites: Income-tax as referenced in Pakistani case law index.
Q2: Which judicial bench decided the case 2001 PLP 1946 (PTD)?
The case was heard and decided by the Supreme Court of India bench comprising: S. P. Bharucha, M.B. Shah and Shivaraj V. Patil, JJ.
Q3: What is the official citation format for this judgment on Pakistan Law Portal?
Cite this legal precedent as: 2001 PLP 1946 (PTD) (COMMISSIONER OF INCOME-TAX Versus KALAWATI). Read the full summary and cross-referenced laws free on Pakistan Law Portal.
Laws Cited
Headnotes / Summary
(Appeal by special leave from the judgment and order, dated November 19, 1991 of the Bombay High Court in I.T.A. No.3 of 1989).
Capital gains
Profits from sale of agricultural lands
Law applicable
Effect of Explanation to S.2(1-A) with retrospective effect from 1-4-1970
Whether income arising from transfer of agricultural lands can ,be treated as agricultural income -.--Question of law-- Indian Income Tax Act. 1961, Ss.2 &
256. Held, that the decision of the Supreme Court in Union of India v. Muthyarn Reddy (1999) 240 ITR 341 being applicable and in favour of the appellant, the order of the High Court was set aside; and the Tribunal was to refer the question whether the Tribunal was right in holding that the profits arising out of sale of agricultural, lands could hot be subjected to income- tax. Union of India v. S. Muthyam' Reddy (1999) 240 ITR 341 (SC) rel. W. A. Quadri and Sushma Suri Pr, Appellant.
Judgment & Decree
‑‑‑‑Reference‑‑‑Agricultural income‑‑‑Capital gains‑‑‑Profits from sale of agricultural lands‑‑‑Law applicable‑‑‑Effect of Explanation to S.2(1‑A) with retrospective effect from 1‑4‑1970‑‑‑Whether income arising from transfer of agricultural lands can ,be treated as agricultural income ‑.‑‑Question of law‑‑ Indian Income Tax Act. 1961, Ss.2 &
256. Held, that the decision of the Supreme Court in Union of India v. Muthyarn Reddy (1999) 240 ITR 341 being applicable and in favour of the appellant, the order of the High Court was set aside; and the Tribunal was to refer the question whether the Tribunal was right in holding that the profits arising out of sale of agricultural, lands could hot be subjected to income- tax. Union of India v. S. Muthyam' Reddy (1999) 240 ITR 341 (SC) rel. W. A. Quadri and Sushma Suri Pr, Appellant. Leave granted. The notice on the special leave petition stated that the matter might be disposed of at this stage in the light of the judgment of this Court delivered on October 1, 1999, in Union of India v. S. Muthyam. Reddy (Civil Appeal No.762 of 1997)‑‑‑ (1999) 240 ITR
341. The respondent has been served but has not put in an appearance. The judgment aforesaid being applicable and in favour of the appellant, the civil appeal is allowed and the judgment and order under appeal is set aside. The question that the appellant sought reference of, namely, "whether, in the facts and in the circumstances of the case, the learned Income‑tax Appellate Tribunal was correct in holding that the profits arising out of sale of agricultural land could not be subjected to income‑tax", shall now be referred by the Tribunal to the High Court to be decided in the light of the judgment in S. Muthyam Reddy's case (1999) 240 I T R 341 (SC). No order as to costs. M.B.A./503/FC Order accordingly.