2002 (12) TMI 618

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....manian, J. - At the instance of the Revenue, a common question of law has been referred to us in relation to the assessment years 1984-85 and 1985-86 of the assessee and the question reads as under : "Whether on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the chit investment/gifts to chit subscribers would not constitute sales/business....