https://www.taxtmi.com/caselaws?id=209089 The Tribunal ruled in favor of the assessee, allowing the appeal and dismissing the revenue's appeal. It found no evidence of income suppression or tax avoidance, emphasizing the genuine commercial decisions made by the assessee in transferring stock to its holding company. The Tribunal concluded that the stock transfer was done on commercial lines and upheld the assessee's explanation for discontinuing operations. The case highlights the significance of considering business realities and commercial expediency in tax assessments. en-us Tue, 18 Jan 2011 00:00:00 +0530 Wed, 31 Jul 2013 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209089 The Tribunal ruled in favor of the assessee, allowing the appeal and dismissing the revenue's appeal. It found no evidence of income suppression or tax avoidance, emphasizing the genuine commercial decisions made by the assessee in transferring stock to its holding company. The Tribunal concluded that the stock transfer was done on commercial lines and upheld the assessee's explanation for discontinuing operations. The case highlights the significance of considering business realities and commercial expediency in tax assessments. Case-Laws Income Tax Tue, 18 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209089