Commissioner Of Income Tax vs B.C. Srinivasa Setty

Authority: Supreme Court Date: 1981-02-19 AY: 1966-67 Section: 2(14), 45(1), 48 Acts: Income Tax Act 1961, Indian Income Tax Act 1922 Result: Assessee Citation: (1981) 21 CTR (SC) 138 : (1981) 128 ITR 294 (SC) : (1981) 5 TAXMAN 1 Justices: P.N. Bhagwati, V.D. Tulzapurkar & R.S. Pathak, JJ. Appeal No: Civil Appeals Nos. 1146 of 1975 c/w Civil Appeals Nos. 1378 of 1976 & 926 o
Whether the transfer of goodwill of a newly commenced business can give rise to a capital gain taxable under section 45 of the Income Tax Act, 1961 --- Held No

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