2000 (5) TMI 7

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....nce has been made under section 256(1) of the Income-tax Act, 1961 (for short "the Act"). The Income-tax Appellate Tribunal, Delhi Bench "D" (in short the "Tribunal"), has referred the following questions for the opinion of this court: "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that section 52(2) was not applicable to the facts of th....

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....rmative, in favour of the assessee and against the Revenue. So far as question No.2 is concerned, an identical issue came up for consideration before this court in the case of CIT v. Raghuvendra Singh (I.T.C. No. 198 of 1982). The decision of the Tribunal holding that the amount in question was not taxable as capital gains (?) was upheld and the Department's special leave petition was also dism....