https://www.taxtmi.com/caselaws?id=261087 The Tribunal dismissed the Revenue's appeal regarding the assessment year for capital gains and upheld that capital gains should be assessed in the year the stock-in-trade is sold. The Tribunal remanded the determination of the cost of land as of 1.4.1981 back to the Assessing Officer for reevaluation. Additionally, the Tribunal deleted the disallowance made under section 14A due to the Assessing Officer's failure to record objective satisfaction regarding the correctness of the accounts relating to dividend income. en-us Tue, 23 Jun 2015 00:00:00 +0530 Thu, 02 Jul 2015 06:08:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261087 The Tribunal dismissed the Revenue's appeal regarding the assessment year for capital gains and upheld that capital gains should be assessed in the year the stock-in-trade is sold. The Tribunal remanded the determination of the cost of land as of 1.4.1981 back to the Assessing Officer for reevaluation. Additionally, the Tribunal deleted the disallowance made under section 14A due to the Assessing Officer's failure to record objective satisfaction regarding the correctness of the accounts relating to dividend income. Case-Laws Income Tax Tue, 23 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261087