VATSALA SHENOY vs. JT.COMMISSIONER OF INCOME TAX
C.A. No.-001234-001234 - 2012Supreme Court18 Oct 2016
Section 260Section 583(4)(a)
18. Capital gain(s) is an artificial income. It is created by
the 1961 Act. Profit(s) arising from transfer of capital asset
is made chargeable to income tax under Section 45(1) of
the 1961 Act. From the scheme of Section 45, it is clear
that capital gains is not an income which accrues from
day-to-day during
