High Court affirms Tribunal's ruling on tax capital gains re-computation under Income Tax Act

The High Court upheld the Income Tax Appellate Tribunal's decision on re-computation of capital gains under Section 153A of the Income Tax Act, following the precedent set in a previous case. The Revenue's appeal was dismissed as no substantial question of law arose for consideration.

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The High Court dismissed the appeal by the Revenue against the order of the Income Tax Appellate Tribunal (ITAT) regarding re-computation of capital gains under Section 153A of the Income Tax Act. The ITAT decision followed the precedent set in Commissioner of Income Tax vs. Kabul Chawla. No substantial question of law arose for consideration.

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