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THE HONOURABLE MR. JUSTICE T.S.SIVAGNANAM AND THE HONOURABLE MRS. JUSTICE V.BHAVANI SUBBAROYAN. –in the case of the assessee being an individual, the long term capital gains arising on the transfer of a residential house will be exempt from income tax if the assessee has, within a period of one year before or after that date either purchased or within a period of three years after that date constructed a residential house. For this purpose, the long term capital asset means a capital asset, which is not a short term capital asset.” 16. From the above, it is clear that the intention of the Legislature was to either purchase before or after the date of sale and the word ‘purchased’ or ‘constructed’ used in the Notes on Clauses amply makes the intention clear. In the light of the above discussions, we hold that the substantial question of law is required to be answered in favour of the assessee. 17. In the result, the above tax case appeal is allowed and the substantial question of law is answered in favour of the assessee. No costs.
by Sekar Reporter · Published September 15, 2020
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that view of the matter, the criminal revision is disposed of on the following terms:- The order of the learned Chief Judicial Magistrate in Cr.M.P.No.1825 of 2017 is upheld; The personal appearance of the petitioners in C.C.No.29 of 2017, before the learned Chief Judicial Magistrate, Puducherry, is dispensed with, except for such hearings as may be subsequently insisted by the Trial Court. 8.Consequently, the connected miscellaneous petition is also closed. 02.08.2022 Index : yes/no Speaking/Non-speaking order drm To The Chief Judicial Magistrate, Pondicherry. The Public Prosecutor, High Court of Madras. D.BHARATHA CHAKRAVARTHY, J. drm Crl.R.C.No.927 of 2021 in Crl.M.P.No.12729 of 2021 02.08.2022 [1] AIR 1968 SC 177 [2] AIR 1985 Supreme Court 1285 [3] AIR 1985 Supreme Court 1285 [4] AIR 1962 HP 28 [5] AIR 1932 Bom 398 [6] Crl.M.P. No.15385 of 2020, Order dated 13/10/2020 [7] 1932 Vol.25 LW page 32
by Sekar Reporter · Published August 5, 2022
