https://www.taxtmi.com/caselaws?id=180466 The ITAT upheld the CIT(A)'s decision, determining that the sale of the membership card constituted a taxable long-term capital gain. The appellant's argument that the card was not a capital asset was rejected, and the assessed gains were upheld. The appeal was dismissed, affirming the taxation of the gains and the levy of interest under sections 234A, 234B, and 234C of the Income-tax Act, 1961. en-us Wed, 04 Sep 2002 00:00:00 +0530 Tue, 03 Jan 2017 17:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180466 The ITAT upheld the CIT(A)'s decision, determining that the sale of the membership card constituted a taxable long-term capital gain. The appellant's argument that the card was not a capital asset was rejected, and the assessed gains were upheld. The appeal was dismissed, affirming the taxation of the gains and the levy of interest under sections 234A, 234B, and 234C of the Income-tax Act, 1961. Case-Laws Income Tax Wed, 04 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180466