https://www.taxtmi.com/caselaws?id=207453 The High Court dismissed the appeals by the Revenue due to tax effect being below the threshold. The Court held that unutilized capital gains were chargeable as income of the previous year, rejecting recomputation based on amended provisions. The Court affirmed the Assessing Officer's competence to demand tax on capital gains through prima facie adjustments and rectification, ruling against the assessees. en-us Fri, 12 Nov 2010 00:00:00 +0530 Sat, 15 Dec 2012 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207453 The High Court dismissed the appeals by the Revenue due to tax effect being below the threshold. The Court held that unutilized capital gains were chargeable as income of the previous year, rejecting recomputation based on amended provisions. The Court affirmed the Assessing Officer's competence to demand tax on capital gains through prima facie adjustments and rectification, ruling against the assessees. Case-Laws Income Tax Fri, 12 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207453