COMMISSIONER OF INCOME TAX Vs. ANURAG DALMIA

JUDGEMENT

(1.) THERE is an application for condoning the delay in refiling this petition. We allow the same as it has been allowed in several other previously decided cases and proceed to decide the application on merits.

(2.) WE are here concerned with an application under s. 256(2) of the IT Act, 1961 praying for a direction to the Tribunal to state a case for the asst. yr. 1976-77. The question sought to be raised is one concerning a profit from the sale of share which amounted to Rs. 7,788. According to the Department, this is a revenue receipt, whereas the assessee contended it was a capital gain.