3910 OF 1983 J U D G M E N T In these appeals, the appellants assessees had received companypensation from the Insurers under policies for insurance against fire and the question that was referred for opinion of the High Court was whether there was a transfer as defined in Section 2 47 of the Income Tax Act, 1961 and the excess sum of companypensation after deducting the original companyt of the assets destroyed by fire had been properly brought to tax as capital gains under Section 45 of the Income Tax Act, 1961.
WITH CIVIL APPEAL NO.
3910 of 1983.