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1977 (7) TMI 33 - HC - Income TaxExtract: .......ess was transferred to the limited company is fully governed by the above decision and in view of that decision no tax on capital gain by way of transfer or sale of goodwill in such a case is payable. In the result, our answer to the question referred is in the negative and in favour of the assessee. The revenue shall pay the costs of the assessee.
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