https://www.taxtmi.com/caselaws?id=248637 The Bombay High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order for the assessment year 1990-1991. The court upheld the treatment of sale proceeds of an immovable property as capital gain, emphasizing the relevance of possession in the transfer under Section 2(47)(v) of the Income Tax Act. It concluded that no substantial question of law was raised, citing consistency in prior tribunal orders and lack of grounds for appeal. The decision aligned with findings in previous assessment years and a Division Bench ruling in favor of the assessee. en-us Wed, 07 May 2014 00:00:00 +0530 Wed, 18 Jun 2014 22:53:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248637 The Bombay High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's order for the assessment year 1990-1991. The court upheld the treatment of sale proceeds of an immovable property as capital gain, emphasizing the relevance of possession in the transfer under Section 2(47)(v) of the Income Tax Act. It concluded that no substantial question of law was raised, citing consistency in prior tribunal orders and lack of grounds for appeal. The decision aligned with findings in previous assessment years and a Division Bench ruling in favor of the assessee. Case-Laws Income Tax Wed, 07 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248637