Supreme Court of India
Commissioner of Income Tax, Madras v. M/s. Madurai Mills Co. Limited
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1 Supreme Court bench has cited this judgment.
From the headnote
Income-tax Act, 1922, s. 12B-Capital Gains-Voluntary liquidation of private limited company-Distribution of assets to shareholder.- Surplus received by shareholders whether attracts tax on capital gains- Distribution of assets whether amounts to sale, exchange relinquishmenti or transfer within meaning of s. 12B. Interpretation of statutes-Proviso which existed in original law dropped in amended law-Inference to be drawn, Three private limited companies in which the assessee held ahatel· went into voluntary liquidation in December 1959 In the course ot the ·liquidation proceedings the
Where later benches applied it
Of those, 1 referred to
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