1983 (1) TMI 13

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..... referred to as " the Act "), the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this Court for its opinion " Whether, on the facts and in the circumstances Of the case, the Appellate Tribunal was right in holding that a sum of Rs. 45,945 was not allowable as deduction under s. 54 of the Act for the purpose of assessing the net capital gain in the hand .....

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..... y to living persons. In this view of the matter the Tribunal dismissed the appeal. Hence, at the instance of the assessee, the aforesaid question of law has been referred to this Court for its opinion. Learned counsel for the assessee conceded that the question arising in the instant case arose for consideration before another Division Bench of this Court in Shrigopal Rameshwardas v. Addl. CIT [ .....

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