https://www.taxtmi.com/caselaws?id=61700 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision, emphasizing the correct interpretation and application of section 50(2) of the Income Tax Act. The case involved the addition of surplus from the sale of machinery, with the Tribunal ruling that no capital gains were chargeable as the cost of new assets acquired exceeded the sale proceeds. The Tribunal dismissed the Revenue's appeal, affirming the deletion of the addition under section 50(2). en-us Mon, 13 Oct 2003 00:00:00 +0530 Mon, 18 Jun 2012 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61700 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision, emphasizing the correct interpretation and application of section 50(2) of the Income Tax Act. The case involved the addition of surplus from the sale of machinery, with the Tribunal ruling that no capital gains were chargeable as the cost of new assets acquired exceeded the sale proceeds. The Tribunal dismissed the Revenue's appeal, affirming the deletion of the addition under section 50(2). Case-Laws Income Tax Mon, 13 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61700