Supreme Court · 1993 INSC 354 · Decided 2 November 1993
Commissioner of Income Tax v. Ram Kumar Aggarwal and BROS.
- Court
- Supreme Court of India
- Citation
- 1993 INSC 354 · [1993] SUPP. 3 S.C.R. 502
- Case number
- CIVIL APPEAL No. 1453/1976
- Decided
- 2 November 1993
- Bench
- B.P. JEEVAN REDDY, S.P. BHARUCHA (2-judge bench)
- Case type
- Civil
- Acts & sections cited
- Companies Act; Income Tax Act
Headnote
OF INCOME TAX v. RAM KUMAR AGGARWAL AND BROS. NOVEMBER 2, 1993. B [B.P'. JEEVAN REDDY AND S.P. BHARUCHA, JJ.) . Income Tax Act, 1922 : Partnership fi~rchasing all equity shares of a company-Taking over its management-Shares of the company held as sto~k-in-trade-Liquiddtion of the distribution share­ holing comes to an end. D The respondent • Asessee, a partnership firm was dealing in shares. In the year 1945, it purchased all the equity shares of a company and took . over its management. In all the subsequent assessment years, he took the stand that
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