Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1997 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1997 (7) TMI 683 - HC - Income TaxExtract: .......nd that such a case must be regarded as falling outside the scope of capital gain tax altogether. We, therefore, hold that though the transfer of the property by the assessee towards capital of the firm amounts to transfer but on the facts and circumstances of the case, that cannot be subjected to capital tax. The reference is answered accordingly.
|