https://www.taxtmi.com/caselaws?id=333534 The Tribunal ruled in favor of the assessee in an appeal concerning the taxability of the amount received upon retirement from a partnership firm as Long Term Capital Gain. The Tribunal held that the amount received could not be taxed as long term capital gain on the transfer of goodwill, contrary to the Revenue's position. Referring to legal precedents and a Co-ordinate Bench decision, the Tribunal overturned the taxability of the amount, supporting the assessee's claim and granting the relief sought. en-us Fri, 26 Aug 2016 00:00:00 +0530 Mon, 17 Oct 2016 09:37:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333534 The Tribunal ruled in favor of the assessee in an appeal concerning the taxability of the amount received upon retirement from a partnership firm as Long Term Capital Gain. The Tribunal held that the amount received could not be taxed as long term capital gain on the transfer of goodwill, contrary to the Revenue's position. Referring to legal precedents and a Co-ordinate Bench decision, the Tribunal overturned the taxability of the amount, supporting the assessee's claim and granting the relief sought. Case-Laws Income Tax Fri, 26 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333534