Law: Income Tax Act, 1961

Section: 269,269C,269F

Income-tax-----Acquisition of immovable property---Transfer of land to four brothers in separate defined shares by single deed---Not sale in favour of association of persons---Sale of individual plots in favour of each purchaser---Acquisition proceedings cannot be taken on basis that there was a single transaction of sale---Indian Income Tax Act, 1961, Ss.269C & 269F. A plot of land was transferred by two transferors, who were joint co-owners, to four brothers in separate defined shares by one sale-deed. The 'competent authority initiated acquisition proceedings under section 269E of the Income Tax Act, 1961, on the basis that there was one transaction of sale in favour of four brothers as an association of persons; but the Tribunal held that there were four sale transactions reflected in the sale-deed and the competent authority had to consider the matter of acquisition afresh; and on further appeal the High Court affirmed the decision of the Tribunal. On appeal to the Supreme Court: Held, affirming the decision of the High Court, that the sale transaction could not be held to be a sale in favour of an association of persons but was of individual plots of land in favour of each purchaser. CIT v. T.V. Suresh Chandran (1980) 121 ITR 985 (Ker.) affirmed. ORDER These appeals are directed against the judgment of the Kerala High Court (see (1980) 121 ITR 985), dated March 29, 1979, in appeals arising from the order of the Income-tax Appellate Tribunal (hereinafter referred to as "the Tribunal") in proceedings for acquisition taken…

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