https://www.taxtmi.com/caselaws?id=25114 A compulsory purchase of an electricity undertaking may be treated, for income-tax purposes, as a sale of assets rather than a transfer of the business as a going concern. On the facts recorded, the Wardha transaction involved identifiable assets covered by the agreement, so the surplus attributable to depreciable assets fell within the rule corresponding to section 41(2). Solatium paid on compulsory acquisition was included in the sale price for capital gains computation. Capital gains on delivery of movable assets on March 11/12, 1967 were taxable in assessment year 1967-68 because the transfer occurred in that previous year. en-us Fri, 23 Jan 1987 00:00:00 +0530 Mon, 25 Jan 2010 14:08:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25114 A compulsory purchase of an electricity undertaking may be treated, for income-tax purposes, as a sale of assets rather than a transfer of the business as a going concern. On the facts recorded, the Wardha transaction involved identifiable assets covered by the agreement, so the surplus attributable to depreciable assets fell within the rule corresponding to section 41(2). Solatium paid on compulsory acquisition was included in the sale price for capital gains computation. Capital gains on delivery of movable assets on March 11/12, 1967 were taxable in assessment year 1967-68 because the transfer occurred in that previous year. Case-Laws Income Tax Fri, 23 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25114