VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX
C.A. No.-001234-001234 - 2012Supreme Court18 Oct 2016
Section 260Section 583(4)(a)
70,47,10,000 was treated as representing goodwill of the
₹
firm which was taxed as long term gain. This mode of arriving at short
term and long term capital gain and taxing it accordingly by the
Assessing Officer has received the stamp of approval by the
Commissioner of Income Tax (Appeals) and the Income Tax Appellate
Tribunal, as well
