1969 (1) TMI 9

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e of the Commissioner. They pertain to the assessment year 1958-59. The two questions are: " 1. Whether on the facts and in the circumstances of the case, the capital gains of $ 17,576 (Rs. 27,243) is liable to capital gains tax ? 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in not considering the amount as capital gains on the score that no tax....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r. One of the grounds of appeal by the Commissioner before the Tribunal was that the capital gains should be treated as on the revenue side and charged to tax under the head of business. That ground was rejected with the result the appeal failed. The Tribunal, in disposing of it, said that it confirmed the order of the Appellate Assistant Commissioner. In the appeal preferred by the Commissioner h....