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1987 (8) TMI 40 - HC - Income TaxExtract: .......he consideration for goodwill, it is clear, no liability to capital gains arises, in view of the decision of the Supreme Court in CIT v. B. C. Srinivasa Setty 1981 128 ITR 294. Having regard to the facts and circumstances, we answer questions Nos. (2) (3) and (4) as indicated above, i.e., in favour of the assessee and against the Revenue. No costs.
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