S.C : The question to be decided in these appeals is whether the word ‘assets’ in s. 46(2) of the IT Act, 1961 (referred to hereafter as the ‘Act’), must be understood and construed according to the definition of the word ‘capital assets’ in s. 2(14) of the Act.
Supreme Court Of India N. Bagavathy Ammal vs. CIT & Anr. Sections 2(14), 45(1), 46(1), 46(2), 47(viii) Asst. Year 1970-71 […]