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1 - 10 of 14 (0.78 seconds)Shri Chalasani Venkateswara Rao, ... vs Income Tax Officer, Ward-Iv, ... on 3 August, 2012
5. I have gone through the submissions of the appellant and
also the observations made by the A.O. in the assessment order. After
going through the above, it is noticed as per M/s.Montage
Manufacturers, the goodwill was of ₹.7,95,88,699/- and not
₹.8,22,17,952/-. As per the appellants submissions and case laws
relied in the case of Chalasani Venkateswara Rao vs. I.T.O., the
goodwill cannot be taxed in the hands of the appellant. Therefore, I am
in agreement with the submissions of the appellant and the long-term
capital gains are deleted."
Commissioner Of Income-Tax, Gujarat vs Mohanbhai Pamabhai on 24 September, 1971
CIT v. Mohanbhai Pamabhai 11, and following the
judgment in CIT v. L. Raghu Kumar 12 held that when a partner retires from a
partnership firm taking his share of partnership interest, no element of transfer of
interest in the partnership asset by the retiring partner to the continuing partner
was involved."
C.I.T., U.P vs Bankey Lal Vaidya (Dead) By L.R.S on 21 January, 1971
The facts of the instant case are identical with
the facts of the case in CIT v. Bankey Lal Vaidya 6.
Section 47 in The Income Tax Act, 1961 [Entire Act]
Commissioner Of Income-Tax, Andhra ... vs L. Raghu Kumar on 21 March, 1982
CIT v. Mohanbhai Pamabhai 11, and following the
judgment in CIT v. L. Raghu Kumar 12 held that when a partner retires from a
partnership firm taking his share of partnership interest, no element of transfer of
interest in the partnership asset by the retiring partner to the continuing partner
was involved."
Commissioner Of Income-Tax vs P.H. Patel on 13 August, 1987
In CIT v. P. H. Patel 9, a Division Bench of the Andhra Pradesh High
Court noticed that the judgment in CIT v. Mohanbhai Pamabhai 10 was approved
by the Supreme Court in Addl.