VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX
C.A. No.-001234-001234 - 2012Supreme Court18 Oct 2016
Section 260Section 583(4)(a)
gains arising from the transfer of
a capital asset to income-tax. In other words, it charges
surplus which arises on the transfer of a capital asset in
terms of appreciation of capital value of that asset. In the
said judgment, this Court held that the “asset” must be one
which falls within the contemplation of section 45
