https://www.taxtmi.com/caselaws?id=332281 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 90,00,000 assessed as business receipts under section 28(1)(va) of the Income Tax Act. The Tribunal agreed that the transaction involved the purchase and subsequent sale of a business, resulting in no short-term capital gain. The Revenue's appeal was dismissed, affirming the capital asset treatment and Nil capital gain computation. en-us Mon, 01 Aug 2016 00:00:00 +0530 Wed, 14 Sep 2016 13:23:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332281 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 90,00,000 assessed as business receipts under section 28(1)(va) of the Income Tax Act. The Tribunal agreed that the transaction involved the purchase and subsequent sale of a business, resulting in no short-term capital gain. The Revenue's appeal was dismissed, affirming the capital asset treatment and Nil capital gain computation. Case-Laws Income Tax Mon, 01 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332281