https://www.taxtmi.com/caselaws?id=334229 The Tribunal dismissed the Revenue's appeal, confirming that the reassessment proceedings under section 147 were invalid, section 45(3) was not applicable to the transfer of current assets, and the revaluation profit did not result in taxable income in the hands of the partners. en-us Wed, 19 Oct 2016 00:00:00 +0530 Mon, 07 Nov 2016 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334229 The Tribunal dismissed the Revenue's appeal, confirming that the reassessment proceedings under section 147 were invalid, section 45(3) was not applicable to the transfer of current assets, and the revaluation profit did not result in taxable income in the hands of the partners. Case-Laws Income Tax Wed, 19 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334229