https://www.taxtmi.com/caselaws?id=206260 The High Court held that the Tribunal erred in its interpretation of Section 50 of the Income Tax Act for computing capital gains. The Court emphasized that the assets of the export-oriented unit (EOU) should be treated as part of the block of assets for the overall business, supporting the assessee's claim for adjustment in capital gains computation. The Court ruled in favor of the assessee, setting aside the Tribunal's order and reinstating the Commissioner of Income Tax (Appeals)' decision. en-us Wed, 10 Aug 2011 00:00:00 +0530 Mon, 26 Mar 2012 14:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206260 The High Court held that the Tribunal erred in its interpretation of Section 50 of the Income Tax Act for computing capital gains. The Court emphasized that the assets of the export-oriented unit (EOU) should be treated as part of the block of assets for the overall business, supporting the assessee's claim for adjustment in capital gains computation. The Court ruled in favor of the assessee, setting aside the Tribunal's order and reinstating the Commissioner of Income Tax (Appeals)' decision. Case-Laws Income Tax Wed, 10 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206260