1990 (8) TMI 56

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..... section 256(2) of the Income-tax Act, 1961, the Department has sought to refer the following two questions as questions of law: "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the income from flats/bungalows in respect of which conveyance deeds in favour of the respective owners could not be executed during the accounting year is .....

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..... nal income as income from house property in respect of flats/bungalows constructed by it and sold to third parties to whom possession was handed over but deeds of conveyance were not executed ?" Rule is, accordingly, made absolute. The Tribunal is directed to draw up a statement of the case and refer the question reframed by us above to this court within six months from today. No order as to cos .....

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