https://www.taxtmi.com/caselaws?id=62253 The Tribunal partially allowed the appeal concerning the assessment of capital gains for a company in liquidation for the assessment year 1988-89. It ruled in favor of assessing the capital gains in the year when all assets were handed over, apportioning the sale consideration to that year. The Tribunal also allowed the set off of unabsorbed loss against capital gains, determined the cost of land based on market value, upheld the disallowance of certain expenditures, and held the company's income in liquidation liable to tax. en-us Mon, 28 Nov 1994 00:00:00 +0530 Tue, 18 Jan 2011 18:03:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62253 The Tribunal partially allowed the appeal concerning the assessment of capital gains for a company in liquidation for the assessment year 1988-89. It ruled in favor of assessing the capital gains in the year when all assets were handed over, apportioning the sale consideration to that year. The Tribunal also allowed the set off of unabsorbed loss against capital gains, determined the cost of land based on market value, upheld the disallowance of certain expenditures, and held the company's income in liquidation liable to tax. Case-Laws Income Tax Mon, 28 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62253