https://www.taxtmi.com/caselaws?id=191978 The Tribunal upheld the CIT(A)'s decisions on all grounds, dismissing the Department's appeal. It confirmed the assessment of capital gains on the sale of shares to partners at a lower value, allowed the business loss claimed on the sale of shares, accepted the conversion of shares into stock-in-trade, clarified the interpretation of 'distribution' under the IT Act, maintained the original cost of shares without reduction, deleted disallowances on interest and hire charges receipts, and allowed full depreciation and machinery spares and repairs expenses. The Tribunal found the assessee's actions legitimate and compliant with the law. en-us Mon, 28 Feb 2005 00:00:00 +0530 Sat, 06 May 2017 14:24:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191978 The Tribunal upheld the CIT(A)'s decisions on all grounds, dismissing the Department's appeal. It confirmed the assessment of capital gains on the sale of shares to partners at a lower value, allowed the business loss claimed on the sale of shares, accepted the conversion of shares into stock-in-trade, clarified the interpretation of 'distribution' under the IT Act, maintained the original cost of shares without reduction, deleted disallowances on interest and hire charges receipts, and allowed full depreciation and machinery spares and repairs expenses. The Tribunal found the assessee's actions legitimate and compliant with the law. Case-Laws Income Tax Mon, 28 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191978