1987 (11) TMI 57

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....MEN J.-The following question has been, at the instance of the Revenue, referred to us by the Income-tax Appellate Tribunal, Cochin Bench: " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the Income-tax Officer could not be considered to have, in actual fact, invoked the provisions of section 52(2) when he has taken action under section 52....

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....ot justify the inference that section 52(1) was attracted. This finding was, on appeal by the Revenue, confirmed by the Tribunal. The facts stated by us clearly attract the principle laid down by the Supreme Court in Sunil Siddharthbhai v. CIT[1985] 156 ITR 509, 521, 523 (SC), where it is stated : " In the circumstances, we are unable to hold that the consideration which a partner acquires o....