SATYA NARAIN MODANI Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THESE appeals are directed against the impugned order of learned Tribunal, dt. 13th March, 2003. It was ordered that both the appeals shall 0be disposed of at admission stage.

(2.) THE assessee -appellant has raised the following questions of law in GT Appeal :

(3.) THE main controversy in these appeals is whether the membership of the stock exchange is a property and on its transfer whether capital gain tax is attracted. The controversy has also been raised that whether the value of the property should be taken at Rs. 10,00,000.