https://www.taxtmi.com/caselaws?id=206870 The court dismissed the appeals filed by the assessee and allowed the appeals filed by the Revenue. It upheld the assessment of capital gains in the hands of the individual outgoing partners, rejected the classification of the sale as a slump sale, and set aside the directions issued by the Vice-President of the Tribunal regarding the computation of capital gains. The income earned by the association of 13 persons was deemed assessable in their hands. en-us Thu, 23 Dec 2010 00:00:00 +0530 Wed, 19 Oct 2016 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206870 The court dismissed the appeals filed by the assessee and allowed the appeals filed by the Revenue. It upheld the assessment of capital gains in the hands of the individual outgoing partners, rejected the classification of the sale as a slump sale, and set aside the directions issued by the Vice-President of the Tribunal regarding the computation of capital gains. The income earned by the association of 13 persons was deemed assessable in their hands. Case-Laws Income Tax Thu, 23 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206870