https://www.taxtmi.com/caselaws?id=118896 The Tribunal directed that the capital gains should be computed under section 45 as long-term capital gain. The Tribunal emphasized the need for further inquiry to ascertain the value of plant and machinery on the date of sale. The issue of deletion of addition on account of interest paid to other concerns was set aside and restored for fresh examination. The Tribunal also required a detailed examination to accurately determine the cost of acquisition and improvement for the transfer of the undertaking as a composite unit. Both appeals were allowed for statistical purposes, with the issues being sent back to the Assessing Officer for thorough reevaluation. en-us Fri, 19 Aug 2005 00:00:00 +0530 Fri, 06 Jul 2012 15:14:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118896 The Tribunal directed that the capital gains should be computed under section 45 as long-term capital gain. The Tribunal emphasized the need for further inquiry to ascertain the value of plant and machinery on the date of sale. The issue of deletion of addition on account of interest paid to other concerns was set aside and restored for fresh examination. The Tribunal also required a detailed examination to accurately determine the cost of acquisition and improvement for the transfer of the undertaking as a composite unit. Both appeals were allowed for statistical purposes, with the issues being sent back to the Assessing Officer for thorough reevaluation. Case-Laws Income Tax Fri, 19 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118896