https://www.taxtmi.com/caselaws?id=276355 The court ruled against the tax department, holding that the second proviso to section 10(2)(vii) of the Income-tax Act does not apply when there is no actual sale or profit due to the similarity between the vendor and the vendee. The judgment emphasized the importance of considering the substance of a transaction rather than just its legal form in determining tax implications. en-us Mon, 18 Feb 1963 00:00:00 +0530 Thu, 08 Nov 2018 10:45:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276355 The court ruled against the tax department, holding that the second proviso to section 10(2)(vii) of the Income-tax Act does not apply when there is no actual sale or profit due to the similarity between the vendor and the vendee. The judgment emphasized the importance of considering the substance of a transaction rather than just its legal form in determining tax implications. Case-Laws Income Tax Mon, 18 Feb 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276355