https://www.taxtmi.com/caselaws?id=187853 The Tribunal upheld the CIT(A)'s decision to delete the addition of capital gains on a protective basis in the assessment of the co-operative society. It was determined that the society managed the plot on behalf of the 14 member societies and did not have ownership rights over the property. The Tribunal dismissed the revenue's appeal, affirming that no ownership transfer to the society occurred, and the accounting entries reflected the distribution of sale proceeds to the 14 societies. en-us Thu, 04 Nov 2010 00:00:00 +0530 Wed, 09 Nov 2016 16:42:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187853 The Tribunal upheld the CIT(A)'s decision to delete the addition of capital gains on a protective basis in the assessment of the co-operative society. It was determined that the society managed the plot on behalf of the 14 member societies and did not have ownership rights over the property. The Tribunal dismissed the revenue's appeal, affirming that no ownership transfer to the society occurred, and the accounting entries reflected the distribution of sale proceeds to the 14 societies. Case-Laws Income Tax Thu, 04 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187853