https://www.taxtmi.com/caselaws?id=174967 The Tribunal upheld the decision to delete additions of Rs. 1,32,88,530 and Rs. 45,41,542 under sections 28(iv) and 41(1) of the Income Tax Act, respectively. The amounts transferred to capital reserves were held to be on capital account, not trading liability, thus not taxable. The Tribunal dismissed the Revenue's appeal, affirming the lower authorities' rulings, with the judgment pronounced on 30/9/2011. en-us Fri, 30 Sep 2011 00:00:00 +0530 Sat, 31 Oct 2015 14:21:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174967 The Tribunal upheld the decision to delete additions of Rs. 1,32,88,530 and Rs. 45,41,542 under sections 28(iv) and 41(1) of the Income Tax Act, respectively. The amounts transferred to capital reserves were held to be on capital account, not trading liability, thus not taxable. The Tribunal dismissed the Revenue's appeal, affirming the lower authorities' rulings, with the judgment pronounced on 30/9/2011. Case-Laws Income Tax Fri, 30 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174967