1990 (7) TMI 30

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....(1) of the Income-tax Act, 1961, at the instance of the Revenue, the following question of law has been referred to this court for its opinion : "Whether, on the facts and in the circumstances of the case, section 52(1) of the Income-tax Act, 1961, can be invoked to determine the capital gains that arose from the sale of the two buses by the assessee for the assessment year 1973-74 ?" We fin....