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2011 (12) TMI 92 - HC - Income TaxCapital gains – cinema hall being sold - reduction of valuation of scrap - inclusion of amount paid to the tenant/licensee for vacation for computation capital gains - direction of remit on the question of payment made to employees on closure of the cinema hall – Held that:- In view of the fact that the A.O. did not himself make any factual analysis or study or state the basis for computing the scrap/salvage value, order passed by the tribunal for the reduction in such valuation is not interfered. Regarding payment to tenant/licensee for vacation of property, payment made by the assessee for vacancy of the property had a link with the sale of property and, therefore, was entitled for set off against sale consideration.In respect of payment to the employees, the order of remitting the file back to A.O. passed by the tribunal is justified.- Decided against the Revenue.
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