https://www.taxtmi.com/caselaws?id=103858 The judge upheld the ld. CIT(A)'s decision, ruling in favor of the assessee regarding the deduction under section 48(2) of the Income-tax Act for capital gains on the sale of an industrial plot. The judge determined that the asset qualified as a long-term capital asset based on the payment date of the enhanced amount in 1984, aligning with legal precedents and authoritative guidelines. The appeal by the revenue was dismissed, and the CO filed by the assessee supporting the ld. CIT(A)'s decision was deemed infructuous and dismissed. en-us Tue, 08 May 2001 00:00:00 +0530 Fri, 24 Feb 2012 18:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103858 The judge upheld the ld. CIT(A)'s decision, ruling in favor of the assessee regarding the deduction under section 48(2) of the Income-tax Act for capital gains on the sale of an industrial plot. The judge determined that the asset qualified as a long-term capital asset based on the payment date of the enhanced amount in 1984, aligning with legal precedents and authoritative guidelines. The appeal by the revenue was dismissed, and the CO filed by the assessee supporting the ld. CIT(A)'s decision was deemed infructuous and dismissed. Case-Laws Income Tax Tue, 08 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103858