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1959 (4) TMI 6 - SC - Income TaxWhether under the facts and circumstances of the case, the amount of ₹ 1,30,785 being the excess of sale proceeds of the building, plant and machinery over the written down value of the business of the said newspapers publications could in law be termed to be income, profits and gains of the petitioner ? Held that:- The question as it has been framed is not aptly worded and we therefore reframe it as under :- " Whether under the facts and circumstances of the case the amount of ₹ 1,30,785 being the excess of sale proceeds of the building, plant and machinery over the written down value thereof could in law be termed to be income, profits and gains of the petitioner ? " We accordingly allow the appeal and send down the question as reframed to the High Court for doing the needful in the matter in the exercise of its jurisdiction under section 66(2) of the Indian Income-tax Act
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