Supreme Court · 1968 INSC 231 · Decided 6 September 1968
Commissioner of Income-Tax, U.P. v. M/S. Madan Gopal Radhey Lal
- Court
- Supreme Court of India
- Citation
- 1968 INSC 231 · [1969] 2 S.C.R. 7
- Case number
- CIVIL APPEAL No. 1764/1967
- Decided
- 6 September 1968
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66(1)
Headnote
7 Jncome-tax-Assessee, dealer in srocks and shares-Receipt of bonus shares in proportion to equity holding-Sale of bonus shares-Whether sale proceeds profits of business or capital. Practice-No application under Income-tax Act, 1922, s. 66(1), challenging finding of fact of Tribunal-Challenge sion-Jurisdiction of High Court to examine whether findings on which conclusion was based are supported by evidence. The assessee, a dealer in shares and securities, held as part of its stock-in-trade, shares of certain companies. The assessee received from those companies, at different times,
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