https://www.taxtmi.com/caselaws?id=206873 The High Court allowed the appeal, setting aside the Tribunal's order and restoring the decision of the CIT (A) in favor of the assessee. The Court held that the assessee was entitled to raise the legal issue before the first Appellate Authority and emphasized the duty of the Assessing Officer to apply relevant provisions correctly. The Court ruled in favor of the assessee, supporting the claim for a lower rate of taxation on long term capital gain as per the proviso to section 112(1) of the Income Tax Act. en-us Wed, 19 Oct 2011 00:00:00 +0530 Tue, 11 Sep 2012 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206873 The High Court allowed the appeal, setting aside the Tribunal's order and restoring the decision of the CIT (A) in favor of the assessee. The Court held that the assessee was entitled to raise the legal issue before the first Appellate Authority and emphasized the duty of the Assessing Officer to apply relevant provisions correctly. The Court ruled in favor of the assessee, supporting the claim for a lower rate of taxation on long term capital gain as per the proviso to section 112(1) of the Income Tax Act. Case-Laws Income Tax Wed, 19 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206873