Supreme Court · 1969 INSC 35 · Decided 12 February 1969
M. R. Goyel, PROP. M/S Milkhiram BROS. Bombay v. The Commissioner of Income Tax, Bombay City 1, Bombay
- Court
- Supreme Court of India
- Citation
- 1969 INSC 35 · [1969] 3 S.C.R. 669
- Case number
- CIVIL APPEAL No. 681/1968
- Decided
- 12 February 1969
- Bench
- J.C. SHAH, V. RAMASWAMI, A.N. GROVER (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 34
Headnote
GOYEL, PROP. MIS MILKllIRAM BROS. BOMBAY B c D E F G H v. THE COMMISSIONER OF INCOME TAX, BOMBAY CITY 1, BOMBAY February 12, 1969 [J. C. SHAH, V. RAMASWAMI AND A. N. GROVER, JJ.) Jncome·tax-Person entering into contract for purchase of goods­ Thereafter transferring benefit of contract T. Company. The agreed purchase price was over Rs. 93 lacs and the assessee was required to deposit a sum of Rs. JO lacs by way of earnest money. As he did not have enough funds, he entered into an arrangement with certain other persons whereby the amount of Rs. 10 lacs was to be deposited by
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