https://www.taxtmi.com/caselaws?id=177656 The Tribunal concluded that M/s Maganahalli Steel Corporation (MSC) was not dissolved, and M/s Maganahalli Associates (MA) did not come into existence due to lack of proper documentation. Regarding the tax liability on capital gains from the sale of property, the Tribunal found that the property was sold by the partners of MSC as partners of MA, leading to the deletion of capital gains tax liability for MSC. The High Court remitted the matter back to the Assessing Officer for re-decision to allow both parties to present relevant documents for a fair decision. en-us Mon, 27 Nov 2006 00:00:00 +0530 Thu, 14 Jan 2016 13:17:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177656 The Tribunal concluded that M/s Maganahalli Steel Corporation (MSC) was not dissolved, and M/s Maganahalli Associates (MA) did not come into existence due to lack of proper documentation. Regarding the tax liability on capital gains from the sale of property, the Tribunal found that the property was sold by the partners of MSC as partners of MA, leading to the deletion of capital gains tax liability for MSC. The High Court remitted the matter back to the Assessing Officer for re-decision to allow both parties to present relevant documents for a fair decision. Case-Laws Income Tax Mon, 27 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177656