https://www.taxtmi.com/caselaws?id=6634 On a true construction of the 2 August 1956 agreement, the total consideration covered not only the scheduled assets but also goodwill and allied rights. The reference in clause 4 to book value as on 1 August 1956 was read as the closing book value on 31 July 1956, so the schedule value of stock could not control the contractual scheme. The higher opening stock figure entered by the assessee did not reflect the true stock value under the agreement, and the addition of Rs. 33,000 was therefore justified against the assessee. en-us Wed, 08 Dec 1965 00:00:00 +0530 Tue, 27 Jan 2009 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6634 On a true construction of the 2 August 1956 agreement, the total consideration covered not only the scheduled assets but also goodwill and allied rights. The reference in clause 4 to book value as on 1 August 1956 was read as the closing book value on 31 July 1956, so the schedule value of stock could not control the contractual scheme. The higher opening stock figure entered by the assessee did not reflect the true stock value under the agreement, and the addition of Rs. 33,000 was therefore justified against the assessee. Case-Laws Income Tax Wed, 08 Dec 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6634