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1965 (10) TMI 16 - SC - Income TaxWhether section 10(2)(vib) was not repugnant to article 14 of the Constitution, and that the transaction amounted to transfer within section 10(2)(vib)? Held that:- The legislature perhaps presumes that if the machinery is offered to the Government for sale, the Government will only buy it at a price which will take into consideration the rebate taken by the assessee. In our opinion, therefore, it has not been established that section 10(2)(vib) violates article 14 of the Constitution. This case has no relevance to the question of the interpretation of the words "sold or otherwise transferred" in the latter part of section 10(2)(vib). Appeal dismissed.
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