https://www.taxtmi.com/caselaws?id=276838 An integrated sale of factory assets, chemicals and match paper was treated as one indivisible realisation transaction rather than separate sales of trading stock and capital assets. Because no part of the consideration could be separately identified as the price of the raw materials, the bargain could not be severed to tax any portion as business profit. The later arrangement merely completed the disposal of closed business assets after the earlier agreement failed, and the company's prior dealings in chemicals did not change the composite character of the disposal. The amounts attributed to the raw materials were therefore not taxable as income. en-us Wed, 27 Jan 1960 00:00:00 +0530 Mon, 19 Nov 2018 12:28:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276838 An integrated sale of factory assets, chemicals and match paper was treated as one indivisible realisation transaction rather than separate sales of trading stock and capital assets. Because no part of the consideration could be separately identified as the price of the raw materials, the bargain could not be severed to tax any portion as business profit. The later arrangement merely completed the disposal of closed business assets after the earlier agreement failed, and the company's prior dealings in chemicals did not change the composite character of the disposal. The amounts attributed to the raw materials were therefore not taxable as income. Case-Laws Income Tax Wed, 27 Jan 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276838