IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR THURSDAY, THE 17TH JANUARY 2008 / 27TH POUSHA 1929 ITA.No. 3 of 2001() ------------------- ITA.13(COCH/1999 of I.T.A.TRIBUNAL,COCHIN BENCH .................... APPELLANT: ----------------- THE COMMISSIONER OF INCOMETAX, TRIVANDRUM. BY ADV. SRI.P.K.R.MENON(SR.),SR.COUNSEL FOR IT SRI.GEORGE K. GEORGE, SC FOR IT RESPONDENT: --------------------- SMT.K.PADMADEVI, LEKSHMI KRISHNA, PUTHEN CHANTHAI, THIRUVANANTHAPURAM – 695 036. BY ADV. SRI.C.KOCHUNNY NAIR SRI.DALE P.KURIEN THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ALONG WITH ITA.No.14/2001 ON 17/01/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C.N.RAMACHANDRAN NAIR & T.R.RAMACHANDRAN NAIR, JJ. ========================= I.T.A.Nos. 3 & 14 of 2001. ========================= Dated this the 17th day of January, 2008. C.N.Ramachandran Nair, J. J U D G M E N T In these connected cases the first issue raised with regard to the inclusion of salary income is covered in favour of the assessee by virtue of the amendment introducing Section 158BB(1)(c)(B) with retrospective effect, referred to in the judgment of this Court reported in Commissioner of Income-Tax v. M.M.Thomas [(2004) 265 ITR 327)]. Following the judgment the appeal filed by the Revenue is dismissed. The other issue raised in the appeal filed by the Revenue and the issue raised in assessee's appeal relate to the fixing of value of the land sold by the assessee. The question raised pertains to re- fixation of market value as on 1.4.1981 for the purpose of computation I.T.A.Nos. 3 & 14 of 2001. 2 of capital gain. While the officer fixed at Rs.3,000/-, the Tribunal re- fixed the market value per cent on land at Rs.6,000/-. We do not find any question of law arising for consideration from the order of the Tribunal because the assessment of market value is only based on facts found by the Tribunal. We, therefore, dismiss both the appeals on this issue. C.N.RAMACHANDRAN NAIR, JUDGE. T.R.RAMACHANDRAN NAIR, JUDGE. kvs/-