https://www.taxtmi.com/caselaws?id=349427 The appeal was allowed in favor of the assessee regarding the treatment of Short Term Capital Gain (STCG) post-amalgamation. The dispute arose from the enhancement of assessment concerning STCG from the sale of assets by the amalgamated entity. The court found that as there was no extinguishment of the block of assets post-amalgamation and the assessee still held assets, the conditions for STCG under Section 50 were not met. Therefore, the enhancement made by the Commissioner of Income Tax (Appeals) was deemed unsustainable, and the addition for STCG was deleted. en-us Wed, 13 Sep 2017 00:00:00 +0530 Fri, 13 Oct 2017 09:25:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349427 The appeal was allowed in favor of the assessee regarding the treatment of Short Term Capital Gain (STCG) post-amalgamation. The dispute arose from the enhancement of assessment concerning STCG from the sale of assets by the amalgamated entity. The court found that as there was no extinguishment of the block of assets post-amalgamation and the assessee still held assets, the conditions for STCG under Section 50 were not met. Therefore, the enhancement made by the Commissioner of Income Tax (Appeals) was deemed unsustainable, and the addition for STCG was deleted. Case-Laws Income Tax Wed, 13 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349427