AJMAL MIAN, J.---This is a petition for leave to appeal against the judgment dated 10-1-1991 passed by a Division Bench of the High Court of Sindh in I.T.R. No.83 of 1982, filed by the respondent under section 66(1) of the Income Tax Act, 1922, for soliciting the opinion of the High Court on the following question:---- "Whether on the facts and in the circumstances of the case, the`Tribuna1 was justified in holding that for computation of capital gain the cost of bonus shares should be taken as its face value and not the average cost of all shares including bonus shares."
The above question has been answered by the High Court in the negative. The petitioner/assessee has, therefore, filed the present petition for leave to appeal.
2 Dr. Nasim Ahmed Khan, learned A.S.C. Appearing for the petitioner, has contended that there is conflict of view between the Lahore High Court and the Sindh High Court on the above question, inasmuch as in the case Commissioner of Income-Tax, Lahore v. Umar Saigol 1973 PTD 450 the Lahore High Court has taken a contrary view what has been found favour with the learned Judges of the Sindh High Court in the impugned judgment.
3. We are inclined to grant leave to appeal in order to resolve the above conflict and to consider the question, whether the High Court was justified in answering the above-quoted question in the negative. Security Rs. 5,000.