Commissioner Of Income Tax vs West Coast Chemicals & Industries Ltd. (In Liquidation)

Authority: Supreme Court Date: 1962-03-20 AY: 1945-46 Section: 2(24), 28(i) Acts: Travancore Income Tax Act Result: Assessee Citation: (1962) 46 ITR 135 (SC) Justices: S.K. Das, M. Hidayatullah & J.C. Shah, JJ. Appeal No: Civil Appeal No. 286 of 1961
Whether profit from sale of chemicals and raw materials during winding up of match manufacturing business constitutes taxable business income or capital appreciation --- Held: No, it constitutes capital appreciation from a winding up sale, not taxable business income.

šŸ”’ Direct Access Blocked

For your security and to prevent unauthorized automated access, individual judgment links cannot be opened directly. Please access this content via Google Search or the TaxPundit Search Portal.

AI Deep Dive
0/5 selected

Membership Required

Unlock official PDFs for all landmark cases.

JOIN NOW āž”
Shopping Cart