https://www.taxtmi.com/caselaws?id=211750 The Tribunal upheld the CIT(A)'s decisions, confirming that the conditions under section 47(xiv) of the Income Tax Act were satisfied, granting the assessee exemption and ruling out taxation of capital gains. Additionally, the Tribunal allowed the depreciation claim on the Gunsun Sorter Machine. The disallowance of telephone expenses was not pursued by the assessee and was therefore dismissed. The revenue's appeal was rejected, and the assessee's cross-objection was partially allowed. en-us Fri, 30 Dec 2011 00:00:00 +0530 Wed, 20 Apr 2016 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211750 The Tribunal upheld the CIT(A)'s decisions, confirming that the conditions under section 47(xiv) of the Income Tax Act were satisfied, granting the assessee exemption and ruling out taxation of capital gains. Additionally, the Tribunal allowed the depreciation claim on the Gunsun Sorter Machine. The disallowance of telephone expenses was not pursued by the assessee and was therefore dismissed. The revenue's appeal was rejected, and the assessee's cross-objection was partially allowed. Case-Laws Income Tax Fri, 30 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211750