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1968 (6) TMI 6 - HC - Income TaxAssessee was carrying on business in forest contracts - For s. 10(2)(vii) to apply there must be a sale of goods. When a person hands over his property to a firm of partners consisting of himself and others, there is no transfer of property so as to constitute a sale of goods as defined in the Sale of Goods Act - Tribunal was justified in its view that there was no sale of the lorries and so no profit made by the assessee
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