https://www.taxtmi.com/caselaws?id=5178 Compulsory acquisition of an electricity undertaking was held to fall within the word "transfer" in section 12B(1) of the Indian Income-tax Act, 1922, because the term was construed broadly and the deletion of the earlier exclusion for compulsory acquisition showed legislative intent to tax such surplus as capital gains. The claim to apportion compensation to goodwill also failed, as no factual material was produced to establish goodwill value or a definite basis for separate valuation, and the issue had not been properly raised earlier. The acquisition surplus was therefore taxable and no separate goodwill deduction was allowed. en-us Thu, 04 May 1978 00:00:00 +0530 Mon, 21 Jul 2014 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5178 Compulsory acquisition of an electricity undertaking was held to fall within the word "transfer" in section 12B(1) of the Indian Income-tax Act, 1922, because the term was construed broadly and the deletion of the earlier exclusion for compulsory acquisition showed legislative intent to tax such surplus as capital gains. The claim to apportion compensation to goodwill also failed, as no factual material was produced to establish goodwill value or a definite basis for separate valuation, and the issue had not been properly raised earlier. The acquisition surplus was therefore taxable and no separate goodwill deduction was allowed. Case-Laws Income Tax Thu, 04 May 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5178