https://www.taxtmi.com/caselaws?id=189059 The court ruled against the assessee on the issues of entitlement to the benefit under section 25(3) of the Indian Income-tax Act in relation to capital gains assessed under section 12B and the liability to pay capital gains tax on profits from asset sales to limited companies. However, the court found in favor of the assessee regarding the applicability of section 12B to the case and criticized the Tribunal for misdirection in valuing the assets. The Tribunal's failure to consider relevant evidence led to a decision in favor of the assessee on the valuation issue. en-us Fri, 12 Oct 1962 00:00:00 +0530 Tue, 27 Dec 2016 11:58:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189059 The court ruled against the assessee on the issues of entitlement to the benefit under section 25(3) of the Indian Income-tax Act in relation to capital gains assessed under section 12B and the liability to pay capital gains tax on profits from asset sales to limited companies. However, the court found in favor of the assessee regarding the applicability of section 12B to the case and criticized the Tribunal for misdirection in valuing the assets. The Tribunal's failure to consider relevant evidence led to a decision in favor of the assessee on the valuation issue. Case-Laws Income Tax Fri, 12 Oct 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189059