1990 (11) TMI 113

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..... decision of this court: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is justified in law in holding that the land situated within a radius of 8 kms. from the end of the municipal limits of the notified municipality is not a capital asset within the meaning of the terms as contained in section 2(14) of the Income-tax Act ?" It is seen from the o .....

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..... effect and, therefore, the judgment of this court which has been followed by the Tribunal no longer applies. On a consideration of the aforementioned argument, we are satisfied that the question of law as stated below arises for the decision of this court though the question framed in the reference application is somewhat different: "Whether, on the facts and in the circumstances of the case, .....

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