Supreme Court of India
M.s.p Nadar Sons, Virudhu Nagar v. Commissioner of Income Tax (central), Madras
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
For the above reasons, we agree with the opinion expressed by the High Court and dismiss this appeal.
Judgment, page 8
From the headnote
Income Tax Act 1961: Sections 70 (2) (ii) and 80T-Assessee- Selling shares held in companies-wng term capital gain as well as long term capital loss-Capital c gains-Computation of The appellant-assessee was a. Registered Firm. The assessment year concerned was 1973-74. During the relevant previous year being the financial year 1972-73, the assessee sold shares it held in several companies; from the sale in three companies it secured a gross long terms capital gain ofRs.5,61,508 However, in the sale of shares in six other companies it sustained a long term capital loss in a sum of Rs. 96,583.
Authorities it was built on
Sign in free to read it
- The full judgment, page by page, as published in the Supreme Court Reports
- The ratio: what the Court held, verbatim, with the page it sits on
- Every bench that relied on it, and every bench that argued against it
- Search every reported judgment, by party, citation or question
- Download the PDF, copy pinpoint citations ready for a filing
An email address, no password.