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2003 (1) TMI 95 - HC - Income Tax"Whether, on the facts and in the circumstances of the case, the Tribunal was justified on facts and in law in deleting the profit of Rs. 21,02,166 under section 41(2) and capital gains amounting to Rs. 2,06,328 by holding that the transfer was in respect of the whole of the sugar factory as a going concern?" - respondent has also not been able to show that that price was not the shown price being the written down value in the books of account or that there is any difference between these amounts and the amounts receivable by the assessee as price of those assets. In the absence of any proof showing the difference of the value between the written down value and the price at which it is alleged, there is no scope for application of section 41(2) in the present case. - On the facts, in this case, section 41(2) cannot be attracted, as rightly held by the learned Tribunal. We, therefore, answer the question referred to in the affirmative in favour of the assessee. The reference is, thus, answered.
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