https://www.taxtmi.com/caselaws?id=70634 The Appellate Tribunal ITAT MADRAS-D ruled in favor of the assessee, an HUF, in a case involving the computation of long-term capital gains and the claim for carry forward of unabsorbed depreciation. The Tribunal allowed the deduction of a payment made to a family member in computing capital gains, approved the investment in National Rural Development Bonds for relief under section 54E, and directed the reevaluation of the claim for setting off losses carried forward, emphasizing the eligibility of certain expenditures for deduction and the correct interpretation of relevant provisions. en-us Mon, 29 Oct 1990 00:00:00 +0530 Mon, 18 Apr 2011 12:17:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70634 The Appellate Tribunal ITAT MADRAS-D ruled in favor of the assessee, an HUF, in a case involving the computation of long-term capital gains and the claim for carry forward of unabsorbed depreciation. The Tribunal allowed the deduction of a payment made to a family member in computing capital gains, approved the investment in National Rural Development Bonds for relief under section 54E, and directed the reevaluation of the claim for setting off losses carried forward, emphasizing the eligibility of certain expenditures for deduction and the correct interpretation of relevant provisions. Case-Laws Income Tax Mon, 29 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70634