TMI Blog2003 (1) TMI 733X X X X Extracts X X X X X X X X Extracts X X X X ..... venue is directed against the order of the CIT(A) dated 27-5-1997 for the assessment year 1995-96. 2. The short facts of the case are that the Assessing Officer held that assessee is a body of individual where the share of beneficiaries are indeterminate and as per the BOI deed, the beneficiaries are entitle to change the individual shares by unanimous resolution. Therefore, the share of benefi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly. 4. The ld. DR relied upon the order of the Assessing Officer. 5. The ld. counsel of the assessee submitted that the section 112 fall under chapter-XII determines of tax in certain special cases. Section 112 bring to tax capital gains which is included in the total income of an assessee at the rate prescribed in that section. In the case of long term capital gains included in the total o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) is justified in holding that long term capital gain of ₹ 1,61,006 included in the total income, the provisions of specific section 112(1)(d) of the Act apply and on the balance of the total income, the maximum marginal rate as provided as General provisions under section 167B. So, our interference is not required and we uphold the action of the CIT(A). In the result, the appeal is dismi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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