(1) THESE appeals have been filed against the judgment of the Keral High court dated 21/11/1979 in ITRs Nos. 137 and 138 of 1977 whereby the following question has been answered by the High court in favour of the assessee and against the Revenue:

"WHETHER on the facts and in the circumstances of the case and on a true interpretation of Section 69 of the Income Tax Act, 1961, the Income Tax Appellate tribunal is right in law in holding that Section 69 of the Act cannot be invoked in respect of the investments of the assessee and that therefore the addition made for the Assessment Year 1968-69 or as the case may be 1969-70 should be deleted?"

(2) THE appeals relate to the Assessment Years 1968-69 and 1969-70. The assessee is a Muslim lady who was aged about 20 years during the previous year relevant for the Assessment Year 1968-69. On 15/11/1967 she had purchased 16 cents of land in Emakulam and the amount spent by her, inclusive of stamp and registration charges, for this purchase was Rs. 34,628.00. On 27/11/1968, she purchased another 12 cents of land at Emakulam and the total investment for this purchase was Rs. 25,902.00. The explanation of the assessee regardi