https://www.taxtmi.com/caselaws?id=25332 The court emphasized the importance of accurately determining the sale price and considering liabilities in income assessment related to asset transfers. The case involved the sale of business assets, with the court ultimately determining the correct sale price to be Rs. 14,15 lakhs after adjustments for liabilities. The judgment highlighted the relevance of sections 41 and 45 of the Income-tax Act in assessing income from asset sales, stressing the need for a comprehensive examination of sale prices and liabilities. The court declined to provide a definitive answer, remitting the case for further examination on disputed issues. en-us Thu, 02 Apr 1987 00:00:00 +0530 Thu, 28 Jan 2010 10:16:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25332 The court emphasized the importance of accurately determining the sale price and considering liabilities in income assessment related to asset transfers. The case involved the sale of business assets, with the court ultimately determining the correct sale price to be Rs. 14,15 lakhs after adjustments for liabilities. The judgment highlighted the relevance of sections 41 and 45 of the Income-tax Act in assessing income from asset sales, stressing the need for a comprehensive examination of sale prices and liabilities. The court declined to provide a definitive answer, remitting the case for further examination on disputed issues. Case-Laws Income Tax Thu, 02 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25332