https://www.taxtmi.com/caselaws?id=185685 A capital gain requires a transfer, sale or exchange of a capital asset; a mere transfer of management of coal mines to another concern was not such a transfer, so the disputed receipt could not be taxed as capital gain. The text also notes that an appellate tribunal is confined to the subject-matter of the appeal as raised by the parties and cannot, on its own motion, treat the same receipt as income on a new basis that was neither appealed against nor cross-objected to. The reference was answered against the revenue. en-us Wed, 04 Sep 1957 00:00:00 +0530 Tue, 23 Aug 2016 16:17:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185685 A capital gain requires a transfer, sale or exchange of a capital asset; a mere transfer of management of coal mines to another concern was not such a transfer, so the disputed receipt could not be taxed as capital gain. The text also notes that an appellate tribunal is confined to the subject-matter of the appeal as raised by the parties and cannot, on its own motion, treat the same receipt as income on a new basis that was neither appealed against nor cross-objected to. The reference was answered against the revenue. Case-Laws Income Tax Wed, 04 Sep 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185685