- (1.) These appeals are directed against the judgment of the Kerala High Court dated 29.3.1979 in appeals arising from the order of the Tribunal in proceedings for acquisition taken u/s. 269F of the Income-tax Act, 1961 (the Act). The property was a plot of land having an area of 16.675 cents which on measurement was found to be 16.268 cents. The property was transferred by the two transferors who are jointly co-owners of the said property to four brothers in separate defined shares as prescribed in the sale deed executed on 17.8.1973. The case of the revenue was that the purchase was made by the four brothers as an AOP. The Tribunal has, however, not agreed with the view of the competent authority in that regard. The High Court in appeal has affirmed the said judgment of the Tribunal.
(2.) We have heard Shri T.L. Viswanatha Iyer, the learned senior counsel appearing for the appellant, in support of the appeals, and we have also perused the impugned judgment of the High Court. We are of the opinion that the High Court has rightly come to the conclusion that the sale transaction in the present case could not be held to be a sale in favour of an AOP and that the sale was of individual plots in favour of each purchaser. In these circumstances, we do not find any merit in these appeals and the same are, accordingly, dismissed. No order as to costs.;