https://www.taxtmi.com/caselaws?id=151083 The appeal filed by the assessee was dismissed. The reassessment proceedings under section 148 were upheld, and the classification of capital gains on the sale of land was confirmed as short-term. The Tribunal found tangible reasons for the reassessment and determined that the asset sold was a depreciable asset, leading to the classification as short-term capital gains. The exemption claimed under section 54EC was disallowed. The decision was pronounced on May 14, 2010. en-us Fri, 14 May 2010 00:00:00 +0530 Thu, 30 May 2013 09:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151083 The appeal filed by the assessee was dismissed. The reassessment proceedings under section 148 were upheld, and the classification of capital gains on the sale of land was confirmed as short-term. The Tribunal found tangible reasons for the reassessment and determined that the asset sold was a depreciable asset, leading to the classification as short-term capital gains. The exemption claimed under section 54EC was disallowed. The decision was pronounced on May 14, 2010. Case-Laws Income Tax Fri, 14 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151083