https://www.taxtmi.com/caselaws?id=238727 The Delhi High Court examined an appeal by the Revenue for the Assessment Year 2006-07, delayed by 156 days. The court allowed the appeal on merits without considering the condonation of delay application. The court upheld the assessee's claim of long-term capital gain as exempt under Section 10(38) of the Income Tax Act, emphasizing the permissibility of converting stock in trade into investment based on factual findings by the Commissioner (Appeals) and the tribunal. The appeal was dismissed without addressing the delay issue. en-us Tue, 22 Oct 2013 00:00:00 +0530 Sat, 21 Feb 2015 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238727 The Delhi High Court examined an appeal by the Revenue for the Assessment Year 2006-07, delayed by 156 days. The court allowed the appeal on merits without considering the condonation of delay application. The court upheld the assessee's claim of long-term capital gain as exempt under Section 10(38) of the Income Tax Act, emphasizing the permissibility of converting stock in trade into investment based on factual findings by the Commissioner (Appeals) and the tribunal. The appeal was dismissed without addressing the delay issue. Case-Laws Income Tax Tue, 22 Oct 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238727