JUDGMENT
B.P. Jeevan Reddy, C.J.
1. For the reasons stated in our order in Wealth-tax Applications Nos. 205 to 210 of 1989 (CWT v. Suresh Kumar Kaushik alias Chakkarpani [1991] 187 ITR 343), disposed of today, question No. 1 alone in these cases is directed to be referred. Question No. 1 reads as follows :
“Whether the Income-tax Appellate Tribunal was factually and legally correct in directing the discounted value of compensation received by the assessee, being taken in relation to the assessment years 1976-77 and 1977-78 when the asset to be valued was agricultural land ?”
2. So far as questions Nos. 2 and 3 are concerned, they cannot be referred for the reasons recorded in the aforesaid order.
3. These wealth-tax applications are allowed in part. No costs.
