https://www.taxtmi.com/caselaws?id=357605 The Tribunal upheld the CIT(A)'s decision in the case, dismissing the Revenue's appeal and the assessee's cross objection. The Tribunal found the reassessment proceedings valid under Sec. 147 of the IT Act. It determined that long term capital gains should be treated as short term capital gains under Sec. 50 of the IT Act. Additionally, the transaction was assessed as a slump sale under Sec. 50B of the IT Act, based on the assessee's alternate claim supported by Form No. 3CEA. en-us Fri, 23 Mar 2018 00:00:00 +0530 Mon, 26 Mar 2018 08:37:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357605 The Tribunal upheld the CIT(A)'s decision in the case, dismissing the Revenue's appeal and the assessee's cross objection. The Tribunal found the reassessment proceedings valid under Sec. 147 of the IT Act. It determined that long term capital gains should be treated as short term capital gains under Sec. 50 of the IT Act. Additionally, the transaction was assessed as a slump sale under Sec. 50B of the IT Act, based on the assessee's alternate claim supported by Form No. 3CEA. Case-Laws Income Tax Fri, 23 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357605