- (1.) The Income-tax Appellate Tribunal, Allahabad, has referred the following questions of law under Section 256(1) of the Income-tax Act, 1961, hereinafter referred to as "the Act", for the opinion of this court : "1. Whether, on the facts and circumstances to the case, the Tribunal was justified in law in holding that the conditions as prescribed under Section 54(1) of the Income-tax Act were not fulfilled in the assessee's case and thus he was liable to capital gains ?
(2.) Whether, on the facts and circumstances of the case, the Appellate Tribunal was correct in law in placing reliance on the definition of 'land appurtenant' as given in Section 5(1)(ivc) of the Wealth-tax Act ?" 2. The present reference relates to the assessment year 1979-80.
(3.) Briefly stated the facts giving rise to the present reference are as follows :;