https://www.taxtmi.com/caselaws?id=10574 The High Court dismissed the appeal, affirming the Tribunal's decision that the sale constituted long-term capital gains due to the transfer of the entire business undertaking. The court clarified that section 50 of the Act applied only to depreciable assets and not to transactions involving non-depreciable assets within the entire business transfer context. The judgments cited by the Revenue were deemed inapplicable to the current case, leading to the dismissal of the appeal. en-us Mon, 20 Jun 2005 00:00:00 +0530 Sat, 18 Jul 2009 08:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10574 The High Court dismissed the appeal, affirming the Tribunal's decision that the sale constituted long-term capital gains due to the transfer of the entire business undertaking. The court clarified that section 50 of the Act applied only to depreciable assets and not to transactions involving non-depreciable assets within the entire business transfer context. The judgments cited by the Revenue were deemed inapplicable to the current case, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 20 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10574