Section 10(33) Excludes Transfer of Capital Assets from Taxation, Not Just Capital Gains, for Economic Reasons.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The economic reasons for insertion of Sec. 10(33) of the Act clearly shows that the source viz., transfer of capital asset being units of US 64 itself that has been excluded by the will of the Legislature and not the capital gain alone.- AT....