1990 (7) TMI 70

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.... Department has filed this application under section 27(3) of the Wealth-tax Act, 1957, requesting this court to direct the petitioner to state four questions : "1. Whether the Income-tax Appellate Tribunal was factually and legally correct in directing discounted value of compensation received by the assessee being taken in relation to the assessment years 1974-75 and 1975-76, when the asset t....

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....ch is vague ? 4. Whether the Tribunal was legally correct in giving the aforesaid direction in the assessee's case where what was received was compensation and not enhanced compensation which was the case considered by the honourable Supreme Court in Khorshed Shapoor Chenai v. Asst. CED [1980] 122 ITR 21 ? " After hearing learned counsel for the parties, we think that questions Nos. 1 and 2 ....