Supreme Court · 1965 INSC 89 · Decided 31 March 1965
Commissioner of Income Tax v. Mugneeram Bangur & CO.
- Court
- Supreme Court of India
- Citation
- 1965 INSC 89 · [1965] 3 S.C.R. 611
- Case number
- CIVIL APPEAL No. 310/1964
- Decided
- 31 March 1965
- Bench
- K. SUBBA RAO, J.C. SHAH, S.M. SIKRI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 66
Headnote
OF INCOME TAX v. MUGNEERAM BANGUR & CO. March 31, 1965 [K. SUBBA RAO, J. C. SHAH AND S'. M. S!KRI, JJ .] Income-tax Act (11 of 1922)-Sale of going concern-Slump price B -When part attributable to stock-in-trade. a D E F G The business of the assessee firm, carrying on land development the valuie of th.e goodWlll \?as sought to be aseessed to income-tax on the grounds (1) that the assessee's business was purely one of buying and selling land and (ii) the amount was profit attributable to the sale of land which was the stock-in-trade of the assessee. In appeal to this Court.
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)