https://www.taxtmi.com/caselaws?id=270117 The court ruled in favor of the appellant, determining that the income from the sale of land should be treated as long-term capital gains. The court considered the agreement date (1.4.1995) as the transfer date due to pending litigation, following the precedent set by the Supreme Court in a similar case. The court emphasized interpreting capital gains tax provisions liberally in favor of the assessee. As a result, the appellant was entitled to claim long-term capital gains, and the appeal was allowed without costs. en-us Tue, 15 Dec 2015 00:00:00 +0530 Tue, 29 Dec 2015 01:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270117 The court ruled in favor of the appellant, determining that the income from the sale of land should be treated as long-term capital gains. The court considered the agreement date (1.4.1995) as the transfer date due to pending litigation, following the precedent set by the Supreme Court in a similar case. The court emphasized interpreting capital gains tax provisions liberally in favor of the assessee. As a result, the appellant was entitled to claim long-term capital gains, and the appeal was allowed without costs. Case-Laws Income Tax Tue, 15 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270117