1981 (7) TMI 57 - GUJARAT HIGH COURT - Income Tax

Extract:
.......e view taken by the Tribunal that the amount of Rs. 5,000 received by the assessee as earnest money and Rs. 2,08,772 received by it as part payment of price constitute the assessee s income taxable for the assessment year 1971-72. We, accordingly, answer the question referred to us in the negative and against the assessee with no order as to costs.