1995 (4) TMI 42

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....) of the Income-tax Act, 1961, the Revenue seeks a direction to the Income-tax Appellate Tribunal to state a case and refer to this court for its opinion, the following questions, relevant to the assessment year 1983-84 : " (1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was correct in law in holding that annual letting value of the house proper....

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....f Rs. 80,000 arising from sale of shares is a bona fide transaction and, consequently, the long-term capital loss is allowable ? " We have heard learned standing counsel appearing for the Revenue as also learned counsel appearing for the assessee. In our opinion, question No. 1 as proposed by the Revenue is not properly worded although the said question does give rise to a question of law. So f....