Supreme Court · 1976 INSC 307 · Decided 26 November 1976
Commissioner of Income Tax, Gujarat-Ii, Ahmedabad v. R. M. Amin
- Court
- Supreme Court of India
- Citation
- 1976 INSC 307 · [1977] 2 S.C.R. 220
- Case number
- CIVIL APPEAL No. 51/1972
- Decided
- 26 November 1976
- Bench
- HANS RAJ KHANNA, JASWANT SINGH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 2(17), 2(47), 45, 46(2), 256(1)
Headnote
Income Tax Act 1961-Sec. 2(17), 2(47), 45, 46(2)-Capital fains-­ Distribution of assets by a liquidator of company in voluntary liquidatiofl-lf liable to capital gains tax-If foreign company whiclt is not a company within the meaning of the Income Tax Act-Company-Meaning of-Transfer. The shares in a private limited company incorporated in Uganda for Sh. 192002=Rs. l ,28,000 /-. The said company went into voluntary liquidation in the year 1961. The liquidators sold the assets of the company and the assessee received an amount equivalent to Rs. 3,12,326/-. The Income Tax Offi:er
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)