Supreme Court · 1964 INSC 250 · Decided 9 November 1964
Commissioner of Income-Tax, Madras v. K. H. Chambers, Madras
- Court
- Supreme Court of India
- Citation
- 1964 INSC 250 · [1965] 2 S.C.R. 43
- Case number
- CIVIL APPEAL No. 1106/1963
- Decided
- 9 November 1964
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
The Income-tax Act, (XI of 1922), s. 25(4)-.Succession-What is­ Finding regarding succession-High Court-Jurisdiction to review. Succession contemplated by s. 25 ( 4) of the Indian Income-tax Act (XI of 1922) involv.S change of ownership, that is, the transferor goei out and the transferee ferred. It also implies that substantially the identity and the continuity of the business are preserved. If there is a transfer of a business, any arrangement between the transferor and the transferee in respect of some of the assets and liabilities, not with a view to enable the
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