https://www.taxtmi.com/caselaws?id=37732 The High Court ruled in favor of N. Guru Investment Pvt. Ltd., Calcutta, in a case concerning benefits under Section 84 of the Income-tax Act, 1961. The court upheld the Tribunal's decision that the undertaking was not formed through reconstruction but a sale transaction, making the assessee eligible for benefits. The High Court declined to answer a question regarding future assessments under Section 84 as the revenue did not press for an answer. The reference was disposed of without costs awarded. Justice Bimal Chandra Basak concurred with Justice Dipak Kumar Sen's judgment. en-us Tue, 21 Nov 1978 00:00:00 +0530 Wed, 31 Mar 2010 17:02:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37732 The High Court ruled in favor of N. Guru Investment Pvt. Ltd., Calcutta, in a case concerning benefits under Section 84 of the Income-tax Act, 1961. The court upheld the Tribunal's decision that the undertaking was not formed through reconstruction but a sale transaction, making the assessee eligible for benefits. The High Court declined to answer a question regarding future assessments under Section 84 as the revenue did not press for an answer. The reference was disposed of without costs awarded. Justice Bimal Chandra Basak concurred with Justice Dipak Kumar Sen's judgment. Case-Laws Income Tax Tue, 21 Nov 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37732