COMMISSIONER OF INCOME TAX Vs. PRADYUMAN KUMAR KACHHAWA

JUDGEMENT

(1.) THESE four income-tax references arise out of the order of the AAC, Ahmedabad Bench " C ", camp at Jodhpur dated March 18, 1975, holding that the provisions of Section 52(2) of the I.T. Act, 1961 (hereinafter referred to as " the Act "), were not attracted to the case of the assessees and directing the ITO to compute the capital gains on the basis of the consideration declared by the assessee in each of the four cases.

(2.) THE facts which have given rise to these references may be briefly stated:

(3.) SECTION 52 of the Act, with which we are concerned in the present case, runs as under :