The Commissioner of Income Tax IV vs. Shri Raaj Kumar Jain

house” does not lead to the discovery of a knife; knives were discovered many years ago. It leads to the discovery of the fact that a knife is concealed in the house of the informant to his knowledge, and if the knife is proved to have been used in the commission of the offence, the fact discovered is very relevant

M/S.R.S.RANGADAS vs. THE ASST.COMMISSIONER OF INCOME TAX

Appeals are disposed of, with no order as to costs

Bench: C.V. BHASKAR REDDY,UJJAL BHUYAN

house in Mussoorie and, therefore, was not entitled to exemption u/s 54F of the Income Tax Act, 1961? ITA No. 405/2005 (3) Whether the Income Tax Appellate Tribunal was correct in taking the market value of the shares quoted at the stock exchange on 05.05.1998 as the basis for computing the capital gains under Section 48 of the Income