Supreme Court · 1967 INSC 280 · Decided 28 November 1967
New Era Agencies (PVT.) LTD., Bombay v. Commissioner of Income-Tax, Bombay City I, Bombay
- Court
- Supreme Court of India
- Citation
- 1967 INSC 280 · [1968] 2 S.C.R. 483
- Case number
- CIVIL APPEAL No. 2462/1966
- Decided
- 28 November 1967
- Bench
- J.C. SHAH, V. RAMASWAMI, VISHISHTHA BHARGAVA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
F G H -'::. NEW ERA AGENCIES (PVT.) LTD., BOMBAY v. COMMISSIONER OF INCOME-TAX, BOMBAY CITY I, BOMBAY November 28, 1967 [J. C. SHAH. V. RAMASWAMI AND V. BHARGAVA, JJ.J Indian /ncome..rax Act, 1922--Profit on sale of shares-Whether capi­ tal accretion or r'-:"enue receipt. During the assessee to its revenue account. M was in control of the assessce-company and he a1so purchased the control and managing agency of the Mills, and in this managing agency company­ . the aSsessec \\'as also a share holder. From 1949 onwards the assessee did not sell the shares of the Mills but
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)