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1976 (11) TMI 3 - SUPREME COURT
Capital Gains - Foreign Company - amount received in excess of the face value of the shares held by a shareholder in the course of voluntary liquidation of a foreign company - provisions of s. 46(2) are applicable to in the case of liquidation of a company as per s. 2(17) - Since foreign company is not covered by this section, the receipts and its liquidation is not liable for facts under s. 46(2) - Revenue's appeal is dismissed