A.K. Sen Gupta, J. - (1.) In this reference made at the instance of the assessee, the following questions have been referred by the Tribunal to this Court, under Sec. 256(2) of the Income -tax Act, 1961 ('the Act') : 1. Whether, on the facts and in the circumstances of the case, the finding of the Tribunal that the cost of the lease -hold interest of the said premises to the assessee could be envisaged is based on any material ?
(2.) Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee was liable to capital gains on surrender of the tenancy rights of the said premises, although there was no cost of acquisition to the assessee for the said tenancy ?
(3.) Whether, on the facts and in the circumstances of the case, the finding of the Buckingham Street property worth £ 4,00,000 is vitiated by reason of non -consideration of the relevant materials on record ?;