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1986 (7) TMI 8 - SC - Income Tax
Forest Lease - On nationalisation of forests, depreciable assets were handed over to Government, and compensation was received in form of logs - those logs sold on profit - Whether balancing charge is attracted on the depreciable assets? For levy of balancing charge under s. 10(2)(vii) - As no money has been paid, s. 10(2)(vii) is not attracted.