https://www.taxtmi.com/caselaws?id=3674 The court upheld the Income-tax Appellate Tribunal's decision that no capital gain arose from the sale of calves due to the absence of a cost of acquisition. It was determined that the sale of calves was not part of the business activity but rather a capital receipt. The court also dismissed the appeal based on the Central Board of Direct Taxes instructions regarding the monetary limit for filing appeals, as the tax effect was below the prescribed threshold. en-us Mon, 21 Jan 2008 00:00:00 +0530 Sun, 27 Jul 2008 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3674 The court upheld the Income-tax Appellate Tribunal's decision that no capital gain arose from the sale of calves due to the absence of a cost of acquisition. It was determined that the sale of calves was not part of the business activity but rather a capital receipt. The court also dismissed the appeal based on the Central Board of Direct Taxes instructions regarding the monetary limit for filing appeals, as the tax effect was below the prescribed threshold. Case-Laws Income Tax Mon, 21 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3674