R DALMIA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) : At the instance of the assessee the following questions of law have been referred to this Court for opinion by the Tribunal under s. 66(1) of the Indian IT Act, 1922 :

(2.) WHETHER, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the transaction in question amounted to an adventure in the nature of trade or that it produced business income within the meaning of s. 2(6C) of the Act ?"