Supreme Court · 2015 INSC 561 · Decided 11 August 2015
M/S. Fibre Boards (P) LTD. Bangalore v. Commissioner of Income Tax, Bangalore
- Court
- Supreme Court of India
- Citation
- 2015 INSC 561 · [2015] 8 S.C.R. 906
- Case number
- CIVIL APPEAL No. 5525/2005
- Decided
- 11 August 2015
- Bench
- A.K. SIKRI, R.F. NARIMAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution; Income Tax Act Section 54G
Headnote
Income Tax Act, 1961- s. 54G - Exemption of capital c gains on transfer of assets in cases of shifting of industrial undertaking from urban area - Exemption u/s. 54G - Claim of, by assessee - On the entire capital gain earned from the sale proceeds of its erstwhile in notified urban area in view of the advances so made being D more than the capital gain made by it- Held: Advances paid for the purpose of purchase and/or acquisition of the said assets amount to utilization·by the assessee of the capital gains made by him for the purpose of
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