https://www.taxtmi.com/caselaws?id=64893 The Tribunal upheld the Commissioner (Appeals)'s decision in treating the gain of Rs. 5,583 as long-term capital gain instead of trading profit. Additionally, the Tribunal supported the deletion of Rs. 1,83,384 included by the ITO under section 2(24)(iv), as it was found that the assessee did not derive any benefit from acquiring the shares at Rs. 10 per share, and the market value was not higher than the par value. The Tribunal concluded that the provisions of section 2(24)(iv) were not applicable to the case. en-us Wed, 02 Feb 1983 00:00:00 +0530 Fri, 11 Feb 2011 10:23:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64893 The Tribunal upheld the Commissioner (Appeals)'s decision in treating the gain of Rs. 5,583 as long-term capital gain instead of trading profit. Additionally, the Tribunal supported the deletion of Rs. 1,83,384 included by the ITO under section 2(24)(iv), as it was found that the assessee did not derive any benefit from acquiring the shares at Rs. 10 per share, and the market value was not higher than the par value. The Tribunal concluded that the provisions of section 2(24)(iv) were not applicable to the case. Case-Laws Income Tax Wed, 02 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64893