2001 (7) TMI 1313

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..... owing questions have been referred for opinion of this court by the Tribunal, Delhi Bench 'D' under section 256(1) of the Income-tax Act, 1961 ('the Act') : "1. Whether, on the facts and in the circumstances of the case, the compensation amount of ₹ 11,96,351 received by the assessee for the acquisition of its agricultural lands by the Government, was assessable to tax as the profits .....

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..... iation has been rightly restricted to one-half of the claim ? 6. Whether, on the facts and in the circumstances of the case, the profit of ₹ 1,03,495 realised from the sale of agricultural lands is assessable to tax as the profit of the assessee's business ?" 3. The dispute relates to assessment year 1972-73. This Court had occasion to deal with a similar issue in the assessee's own .....

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