https://www.taxtmi.com/caselaws?id=103365 The Tribunal upheld the decision that Section 45(4) of the Income Tax Act was not applicable as there was no distribution of assets upon the dissolution of the firm. Consequently, the additions made by the Assessing Officer on account of capital gains and valuation of closing stock were deleted. The revenue's appeal was dismissed, and the cross-objection filed by the assessee was allowed for statistical purposes. en-us Wed, 06 Mar 2002 00:00:00 +0530 Wed, 22 Feb 2012 15:16:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103365 The Tribunal upheld the decision that Section 45(4) of the Income Tax Act was not applicable as there was no distribution of assets upon the dissolution of the firm. Consequently, the additions made by the Assessing Officer on account of capital gains and valuation of closing stock were deleted. The revenue's appeal was dismissed, and the cross-objection filed by the assessee was allowed for statistical purposes. Case-Laws Income Tax Wed, 06 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103365