K.S. Hegde, J.—The question referred to this court for its opinion is :

Whether, on the facts and in the circumstances of the case, the sums of Rs. 5,114, Rs. 7,889 and Rs. 3,000 realised by the assessee on the sale of plots in the previous years ending on 30th June, 1958, 30th June, 1959, and 30th June, 1960, were revenue profits chargeable to Income Tax ?"

2. In this case, the relevant assessment years are 1959-60, 1960-61 and 1961-62.

3. On January 19, 1949, the assessee and three other persons constituted a partnership with a view to carry on business on the terms and conditions contained in the deed entered into by them. In pursuance of that agreement, they purchases on January 20, 1949, in their joint names two bungalow sites in Malleswaram. The object was to convert those sites into smaller building sites and effect sales thereof. The partners appointed one among them as their power-of-attorney for the purpose of carrying on the business of the partnership. On June 6, 1956, the partnership was dissolved. By that time the firm had sold all the sites excepting 17 sites. One of the 17 sites was given to charity. The remaining 16 sites were divided between the four partn