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Case Law Details

Case Name : G. Sreenivasan Vs Deputy Commissioner of Income-tax (ITAT Cochin)
Related Assessment Year : 2003-04
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The year of taxability of the capital gain in the case of development agreements came to be considered by the Hon’ble Bombay High Court in the case of Chaturbhuj Dwarkadas Kapadia v. CIT [2003] 260 ITR 491. It is pertinent to note that the High Court also noted both clauses (v) and (vi) of sec. 2(47) extracted above in its decision. We feel it pertinent to extract below the relevant observations made by the Hon’ble Bombay High Court in that case.

“Before us, it was argued

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