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2004 DIGILAW 836 (PNJ)

Sushil Kumar v. Commissioner Of Income Tax

2004-08-05

ADARSH KUMAR GOEL, N.K.SUD

body2004
Judgment N.K.Sud, J. 1. We have heard counsel for the petitioner and are satisfied that the following question of law arises out of the order of the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar, dated July 9, 1992, relating to the assessment year 1982-83 : "Whether, on the facts and circumstances of the case, the Tribunal was right in holding that the provisions of Section 52(2) of the Income-tax Act, 1961, are automatically attracted to a case where the difference in the market price and the apparent consideration was more than 15 per cent. ?" 2. Accordingly, we direct the Tribunal to draw up a statement of the case and refer the aforementioned question of law for consideration by this court. 3. The petition is, accordingly, allowed.