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Petitioner: BARI DOAB BANK LTD. VS Respondent: COMMISSIONER OF INCOME-TAX
Court Name: Punjab and Haryana High Court Judge(s): V. Ramaswa mi, G. R. Majithia Title: BARI DOAB BANK LTD. vs COMMISSIONER OF INCOME-TAX Case No.: Case No. 88 of 1984 Date of Judgment:1988-08-29 Reported As: 1991 PTD 257 Result: Order accordingly
JUDGMENT
JUDGMENT V. RAMASWAMI, C. J.--We are satisfied that the following question of law does arise out of the order of the Tribunal: "Whether, on the facts and in the circumstances of the case, the profit of Rs. 8,54,141 on the sale of land made by the assessee was assessable as business profits or as capital gains?" Accordingly, we direct the Tribunal to draw up a statement of the case and refer the aforesaid question of law to this Court for its opinion.