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COMMISSIONER OF INCOME-TAX versus JAYKRISHNA HARIVALLABHDAS


Capital gains The difference between the effect of section 46 on the liquidation of a company to the direction of the capital loss company is divided into liquid liquidation in liquid liquidation liquidated in section 46 liquid asset divided into shareholders. Loss on such distribution can be considered as a capital loss which can be fixed in the Indian Companies Act, 1956, Sections 481, 497, 509, 547 and 577 Indian Income Tax Act, 1961, Sections 4, 45. 46 (1), (2), 48, 55 (2) (B) (iii), 71 and 74

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