P S VASANTHA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE question which falls for consideration in this case is as under :

(2.) AT the outset, the learned counsel appearing on behalf of the assessee very fairly states that the sole question is covered by a decision of this Court in Venkatesh & Ors. vs. CIT (2000) 162 CTR (Mad) 142 : (2000) 243 ITR 367 (Mad) to which one of us, N.V. Balasubramanian, J. was a party, according to which, the price paid for shares by the vendee is required to be considered for computing capital gains in the hands of assessee. In that view, there would remain nothing in this matter and the reference is answered in favour of the Revenue and against the assessee. No costs. *******