https://www.taxtmi.com/caselaws?id=199703 The High Court determined that the profit accrued to the assessee from the land sale transaction to the partnership firm was the full difference between the purchase and selling prices. The Court rejected the suggestion to stagger the assessment of the profit over multiple years, emphasizing the legal validity of the transaction and the straightforward calculation of profit. The Court did not address the second question raised regarding the assessment methodology, as the first question was resolved decisively in favor of the revenue authorities. en-us Tue, 28 Oct 1958 00:00:00 +0530 Fri, 09 Mar 2018 14:37:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199703 The High Court determined that the profit accrued to the assessee from the land sale transaction to the partnership firm was the full difference between the purchase and selling prices. The Court rejected the suggestion to stagger the assessment of the profit over multiple years, emphasizing the legal validity of the transaction and the straightforward calculation of profit. The Court did not address the second question raised regarding the assessment methodology, as the first question was resolved decisively in favor of the revenue authorities. Case-Laws Income Tax Tue, 28 Oct 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199703