COMMISSIONER OF INCOME TAX Vs. AMRIK SINGH

JUDGEMENT

(1.) THE Income Tax Appellate Tribunal, Chandigarh, vide order dated April 30, 1984, passed in R.A. No. 141 of 1983, arising out of I.T.A. No. 760 of 1981, for the assessment year 1974 -75 has referred the following question to this Court for its opinion:

(2.) THE brief facts, out of which the present reference has arisen, are as under:

(3.) THE assessee carried an appeal under Section 250(6) of the Income Tax Act, before the Commissioner (Appeals) who vide his order dated September 1, 1981, allowed the appeal of the assessee holding that no taxable capital gains arose in this case because the capital assets did not cost anything to the assessee in terms of money but had been acquired merely by operation of law. The appeal filed by the Revenue before the Income Tax Appellate Tribunal, Chandigarh, was also dismissed vide order dated July 30, 1983. The appeal of the Revenue was dismissed by the Tribunal relying upon its own decision in the case of Sh. Bahiev Singh (I.T.A. Nos. 462(ASR)/1979 and 694 (ASR)/1979, dated April 29, 1981.