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1962 (3) TMI 4 - SC - Income TaxWhether on the facts and in the circumstances of this case, and on a true interpretation of section 7(1) of the Indian Electricity Act and clause 9 of the Fazilka Electric Licence, 1934, the transaction, by which the Government acquired the undertaking, could be regarded as a sale within the meaning of section 10(2)(vii) of the Income-tax Act ? Held that:- The High Court correctly answered the question referred to it. There was a sale in the present case of the building, machinery and plant within the meaning of clause (vii) of section 10(2) of the Income-tax Act. Appeal dismissed.
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