- (1.) This application under Section 256(2) of the Income-tax Act, 1961, has been taken out on the ground whether the amount of Rs. 2,48,348 is a capital receipt or a revenue receipt.
(2.) In the decision, based on the appreciation of the evidence and whether it should be taxed or not, the Tribunal has followed the decision of the apex court in Miss Dhun Dadabhoy Kapadia v. CIT, [19671 63 ITR 651 and the decision of this court in CIT v. Oberoi Building and Investment P. Ltd., [1993] 203 ITR 403,
(3.) We issued rule and heard learned counsel on rule.;