Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1960 (12) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1960 (12) TMI 95 - MADRAS HIGH COURTExtract: .......ot;deemed income" for all purposes. Our answer to the first question is that no portion of the sale proceeds realised by the assessee company in 1955 was assessable to tax as income deemed under the second proviso to section 10(2)(vii), to be profits of any business of the assessee. The assessee will be entitled to the costs of this reference.
|