https://www.taxtmi.com/caselaws?id=77171 The Appellate Tribunal upheld the deletion of an addition of Rs. 1,85,93,546 claimed as exempt capital gains under section 47(iv) of the Income-tax Act. The Tribunal considered the consistent treatment of similar transactions as capital gains, the nature of the investments, and the precedent set in a prior case where the issue was decided in favor of the assessee. The Tribunal emphasized that the Revenue could not selectively challenge judgments without just cause. Therefore, the Tribunal ruled in favor of the assessee, concluding that the capital gains were exempt under the specified provision of the Income-tax Act. en-us Tue, 22 Jan 2008 00:00:00 +0530 Sat, 02 Feb 2013 14:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77171 The Appellate Tribunal upheld the deletion of an addition of Rs. 1,85,93,546 claimed as exempt capital gains under section 47(iv) of the Income-tax Act. The Tribunal considered the consistent treatment of similar transactions as capital gains, the nature of the investments, and the precedent set in a prior case where the issue was decided in favor of the assessee. The Tribunal emphasized that the Revenue could not selectively challenge judgments without just cause. Therefore, the Tribunal ruled in favor of the assessee, concluding that the capital gains were exempt under the specified provision of the Income-tax Act. Case-Laws Income Tax Tue, 22 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77171