https://www.taxtmi.com/caselaws?id=71131 The Tribunal dismissed the departmental appeal and partially allowed the cross objection, ruling that the entire 25 kgs. of silver utensils were exempt from capital gains tax as they were intended for domestic use. The decision was based on evidence presented, including a certificate from the CIT and previous Tribunal orders, establishing the silver utensils' domestic purpose. The Tribunal's interpretation of the IT Act and precedent led to the exemption of the silver utensils from capital gains tax, affirming the assessee's position. en-us Wed, 16 Apr 1980 00:00:00 +0530 Thu, 21 Apr 2011 15:21:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71131 The Tribunal dismissed the departmental appeal and partially allowed the cross objection, ruling that the entire 25 kgs. of silver utensils were exempt from capital gains tax as they were intended for domestic use. The decision was based on evidence presented, including a certificate from the CIT and previous Tribunal orders, establishing the silver utensils' domestic purpose. The Tribunal's interpretation of the IT Act and precedent led to the exemption of the silver utensils from capital gains tax, affirming the assessee's position. Case-Laws Income Tax Wed, 16 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71131