- (1.) We have heard Shri Krishna Agrawal for the appellant-assessee. Shri Dhananjay Awasthi appears for the respondent-department.
(2.) These three income tax appeals under Section 260A of the Income Tax Act, 1961 (the Act) filed by the appellant-assessee, are directed against common order of the Income Tax Appellate Tribunal dated 31st December, 2001 deciding Income Tax Appeal Nos.2038 (A) of 1995; 220 (A) of 1997 and 728 (A) of 1999 for the assessment years 1989-90, 1990-91 and 1991-92 respectively.
(3.) The appeals were admitted on 27.8.2007 on the following substantial questions of law:- "(i) Whether on the facts and in the circumstances of the case, Tribunal is legally justified in confirming the order of the Assessing Authority computing capital gain? (iv) Whether on the facts and in the circumstance of the case, Tribunal is legally justified in confirming the order of the Assessing Authority and estimating business income for the sale of the land?";