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1961 (12) TMI 93 - CALCUTTA HIGH COURT
Extract:
.......nds which was the stock-intrade of the assessee company. So far as question No. 3 is concerned, even if the value of the stock-in-trade taken over by the company was greater than the figure shown therefore in the agreement for sale, in view of the answer to question No. 4, there was no profit which could be taxed. RAY J.-- agree. Order accordingly.