https://www.taxtmi.com/caselaws?id=9115 The court ruled in favor of the assessee, stating that for the purpose of claiming exemption under section 53 of the Income-tax Act, each property transaction must be evaluated independently. The exemption should be determined based on the asset values at the time of each transfer. Each transaction should be considered separately, and the assessee was entitled to costs, including counsel's fee. en-us Thu, 01 Mar 1973 00:00:00 +0530 Fri, 19 Jun 2009 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9115 The court ruled in favor of the assessee, stating that for the purpose of claiming exemption under section 53 of the Income-tax Act, each property transaction must be evaluated independently. The exemption should be determined based on the asset values at the time of each transfer. Each transaction should be considered separately, and the assessee was entitled to costs, including counsel's fee. Case-Laws Income Tax Thu, 01 Mar 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9115