M/S FIBRE BOARDS (P) LTD BANGALOARE vs. CIT BANGALORE

2) (3) __________________________________________________________ ……………………… ……………………… ……………………… 10 Page 11 JUDGMENT ……………………… ……………………… 6. Maharashtra (i) Bombay Thana Area. (ii) Poona-Pimpri-Chinchwad area. (iii) Khopoli area. (iv) Areas within the limits of- (a)Nagpur Municipal Corporation. (b)Sholapur Municipal Corporation. 8. Section 54G of the Income Tax Act inserted by the Finance Act, 1987 with effect from 1.4.1988 reads as follows: “54G. Exemption of capital gains

COMMNR.,CENTRAL EXCISE & CUSTOMS, KERALA vs. M/S. LARSEN & TOUBRO LTD

Appeals are disposed of

Capital gains”. Section 45 is a charging section. For the purpose of imposing the charge. Parliament has enacted detailed provisions in order to compute the profits or gains under that head. No existing principle or provision at variance with them can be applied for determining the chargeable profits and gains. All transactions encompassed by Section 45 must fall under