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1972 (2) TMI 11 - DELHI HIGH COURTWhether the Tribunal could hold that a sum of Rs. 30,000 being the face value of three hundred fully paid up shares of firm, was not capital but revenue receipt in the hands of the petitioner liable to tax - Assessee obtained dealership of petrol. He transferred the dealership rights to a company for a consideration of fully paid up shares - Tribunal, therefore, ought to have determined the market value of the shares at the time and it erred in arriving at the conclusion that the face value of the shares would constitute the revenue receipt
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