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Case Law Details

Case Name : CIT Vs Coats of India Ltd. (Calcutta High Court)
Related Assessment Year :
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RELEVANT EXTRACTS:

Therefore, there cannot be a formula which had no connection with the value of the individual assets and the liabilities. The price was determined that of the business and therefore, there is no question of picking up any portion of such price and charging its capital gains. It appears to us that before transfer of the company, the said company had issued subscribed share capital and the original share certificates were produced before the CIT (Appeals). The company had transferred a business undertaking as a whole whi

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