https://www.taxtmi.com/caselaws?id=49611 The High Court ordered the Income-tax Appellate Tribunal to state a case and refer a legal question regarding the excess sale proceeds of building, plant, and machinery as income, profits, and gains. The Court held that the question raised was legal and should have been referred for a decision. The appellant's appeal was allowed, and the reframed question was sent to the High Court for consideration under section 66(2) of the Indian Income-tax Act. The appellant was awarded costs for the reference before the High Court, while the respondent was to bear their own costs for the appeal. en-us Tue, 14 Apr 1959 00:00:00 +0530 Thu, 04 Sep 2014 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49611 The High Court ordered the Income-tax Appellate Tribunal to state a case and refer a legal question regarding the excess sale proceeds of building, plant, and machinery as income, profits, and gains. The Court held that the question raised was legal and should have been referred for a decision. The appellant's appeal was allowed, and the reframed question was sent to the High Court for consideration under section 66(2) of the Indian Income-tax Act. The appellant was awarded costs for the reference before the High Court, while the respondent was to bear their own costs for the appeal. Case-Laws Income Tax Tue, 14 Apr 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49611