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1958 (9) TMI 2 - SC - Income TaxWhat were the properties that were sold to the purchaser under the sale deed dated the 17th May, 1946, whether they were only the properties mentioned in part 1 to the schedule or, whether they included the fixtures mentioned in part 2 as well? Held that: On a construction of the two documents, we are of opinion that what were intended to be sold and what were actually sold under the deed dated the 17th May, 1946, were only the properties mentioned in part 1 of the schedule and not any items included in part 2 and that the intention was to sell the fixtures as movables. In this view, the question whether the movables have been validly sold does not really arise for determination, because if the sale is invalid, when there is no sale so far as they are concerned and section 12B will be inapplicable. The decision of the Tribunal holding that it is only the profits in respect of the sale of the properties described in part 1 that are liable to tax under section 12B is correct. The appeal fails and is dismissed
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