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2003 (8) TMI 30 - HC - Income TaxWhether, Tribunal was justified in entertaining miscellaneous application filed by the assessee and allowing the same by quashing the order of the Commissioner (Appeals) by holding that the transaction did not result in taxable capital gains? –Whether, when the Tribunal held under order dated November 27, 1986, that there was no genuine conversion of the shares and debentures into stock-in-trade before transferring the same into partnership firm, the Tribunal was right in law in entertaining the claim of the assessee that the transfer did not result into taxable capital gains?" – Questions are answered in the affirmative, i.e., in favour of the assessee and against the Revenue.
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