1985 (7) TMI 14

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....ce of the Commissioner of Income-tax, Gujarat, the following question is referred to us for our opinion : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the contribution of joint stock made by the assessee as capital to the firm, M/s. Niraru Associates, did not within the meaning of section 2(47) tantamount to transfer in rel....

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.... V. Sarabhai from the aforesaid decision of this court, being Civil Appeal No. 1777 of 1981 (Sunil Siddharthbhai v. CIT and Kartikey V Sarabhai v. CIT [1985] 156 ITR 509 (SC)) it may be necessary to grant leave to appeal, which, however, is not pressed for by the present assessee, in view of the consensus. Oral application, therefore, stands disposed of accordingly. The consensus is that the parti....