https://www.taxtmi.com/caselaws?id=12047 The High Court affirmed the Tribunal's decision that the assessee was not entitled to claim alleged losses as capital losses upon retirement from the partnership firm. The court held that the sum received equaled the capital contributed, absolving the assessee of further loss liability. The court distinguished a precedent involving excess amount receipt, emphasizing that in this case, assets and liabilities were accounted for before determining the sum payable to the assessee. The appeal was dismissed at the admission stage, with no legal question warranting interference. en-us Wed, 18 Dec 2002 00:00:00 +0530 Tue, 16 Feb 2010 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12047 The High Court affirmed the Tribunal's decision that the assessee was not entitled to claim alleged losses as capital losses upon retirement from the partnership firm. The court held that the sum received equaled the capital contributed, absolving the assessee of further loss liability. The court distinguished a precedent involving excess amount receipt, emphasizing that in this case, assets and liabilities were accounted for before determining the sum payable to the assessee. The appeal was dismissed at the admission stage, with no legal question warranting interference. Case-Laws Income Tax Wed, 18 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12047