1992 (1) TMI 79

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Income-tax Appellate Tribunal has referred to us, for our opinion, the following question: "Whether, on the facts and in the circumstances of the case, the amount of Rs. 60,000 received by the assessee on his retirement from the firm of M/s. Modi Dyes and Industries cannot be exigible to capital gains tax under section 45 or cannot be chargeable to tax under section 28(iv) of the Income-tax Act....