Chainrup Sampatram vs Commissioner Of Income Tax
Whether profit from appreciation in value of closing stock located in an Indian State (Bikaner) is exempt under Section 14(2)(c) of the Indian Income Tax Act, 1922 --- Held No. Whether such profit accrues at the location of the stock or at the place of business for taxation purposes --- Held it accrues at the place of business (Calcutta).
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