https://www.taxtmi.com/caselaws?id=62360 The Tribunal ruled in favor of the assessee on multiple grounds, allowing deductions for provident fund contributions paid before the due date, excluding agricultural income from book profit under Section 115JB, and recognizing the sale of "Boyce Estate" as a split sale, not a slump sale. The Tribunal also upheld the treatment of long-term capital loss on shares as capital loss, permitting the set-off against long-term capital gains. Disallowances of replanting expenditure and license fees were rejected, affirming them as legitimate business expenses. The Tribunal dismissed the Revenue's appeal, confirming the non-capital gains nature of the sale of grevillea trees. en-us Tue, 12 May 2009 00:00:00 +0530 Thu, 19 Dec 2024 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62360 The Tribunal ruled in favor of the assessee on multiple grounds, allowing deductions for provident fund contributions paid before the due date, excluding agricultural income from book profit under Section 115JB, and recognizing the sale of "Boyce Estate" as a split sale, not a slump sale. The Tribunal also upheld the treatment of long-term capital loss on shares as capital loss, permitting the set-off against long-term capital gains. Disallowances of replanting expenditure and license fees were rejected, affirming them as legitimate business expenses. The Tribunal dismissed the Revenue's appeal, confirming the non-capital gains nature of the sale of grevillea trees. Case-Laws Income Tax Tue, 12 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62360