2001 (7) TMI 1313

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....e instance of the assessee, the following questions have been referred for opinion of this court by the Tribunal, Delhi Bench 'D' under section 256(1) of the Income-tax Act, 1961 ('the Act') : "1. Whether, on the facts and in the circumstances of the case, the compensation amount of Rs. 11,96,351 received by the assessee for the acquisition of its agricultural lands by the Government, was....

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.... in the negative, whether the claim for repairs and depreciation has been rightly restricted to one-half of the claim ? 6. Whether, on the facts and in the circumstances of the case, the profit of Rs. 1,03,495 realised from the sale of agricultural lands is assessable to tax as the profit of the assessee's business ?" 3. The dispute relates to assessment year 1972-73. This Court had oc....