1980 (11) TMI 84 - AT - Income Tax

Summary

The CIT(A) requested the Tribunal to refer questions regarding the taxation of certain items as capital gains to the High Court, but the Tribunal declined as it found no legal question. The Tribunal upheld that the items were personal effects not subject to capital gains tax, as they were used for personal use. The addition of Rs. 45,000 as capital gains was deleted.