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1993 (7) TMI 45 - HC - Income Tax
Extract:
....... 1979 Tax 53(6)-28, though not binding upon this court, has all the same a persuasive value. The point in dispute is squarely covered by this judgment. Thus, we are of the view that the Appellate Tribunal was right in law in holding that the capital gain was a long-term capital gain. Thus the question of law referred is answered in the affirmative.