Supreme Court · 2005 INSC 55 · Decided 31 January 2005
Commissioner of Income Tax, Mumbai v. D.P. Sandu BROS. Chembur (P) LTD.
- Court
- Supreme Court of India
- Citation
- 2005 INSC 55 · [2005] 1 S.C.R. 895
- Case number
- CIVIL APPEAL No. 2335/2003
- Decided
- 31 January 2005
- Bench
- RUMA PAL, ARIJIT PASAYAT, C.K. THAKKER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 56, 48, 45
Headnote
B Income Tax Act, 1961 (Pi"ior to 1995 Amendment)-Sections !0(3), 14, 45 and 56-Capital Gains Tax - Liability-On the amount received against surrender of tenancy rights-Stand of Revenue before Court that the .cost of c acquisition was incapable of being ascertained-Liability negated by Courts of tenancy right is ascertainable assessee not liable to tax in view of the stand of Revenue-The income being capital receipt and assessable only under Item E of Section 14, cannot be taxed under Section I 0(3) either-~( the income is included in any one of the heads, it cannot be brought
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