https://www.taxtmi.com/caselaws?id=219671 The Tribunal upheld the Assessing Officer's decision in treating the distribution of assets as a transfer of capital assets under section 45(4) of the Income Tax Act. It found that the Assessing Officer's computation of long-term capital gains was correct and reversed the relief granted to the assessee by the Commissioner of Income Tax (Appeals). The Tribunal ruled in favor of the Revenue, concluding that the valuation and inclusion of assets in the capital gains computation were appropriate. en-us Wed, 11 Jul 2012 00:00:00 +0530 Sat, 22 Dec 2012 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219671 The Tribunal upheld the Assessing Officer's decision in treating the distribution of assets as a transfer of capital assets under section 45(4) of the Income Tax Act. It found that the Assessing Officer's computation of long-term capital gains was correct and reversed the relief granted to the assessee by the Commissioner of Income Tax (Appeals). The Tribunal ruled in favor of the Revenue, concluding that the valuation and inclusion of assets in the capital gains computation were appropriate. Case-Laws Income Tax Wed, 11 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219671