https://www.taxtmi.com/caselaws?id=370516 The Tribunal partially allowed the appeal by deleting the addition for the conversion of Cumulative Compulsory Convertible Preference Shares (CCPS) into equity shares, stating it did not constitute a transfer under the Income Tax Act. The issue of notional interest on the capital balance in the partnership firm was sent back to the Assessing Officer for further examination. As the first issue was resolved in favor of the assessee, the assessment under Minimum Alternate Tax (MAT) computation became academic and was not further addressed. en-us Fri, 09 Nov 2018 00:00:00 +0530 Mon, 19 Nov 2018 08:39:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370516 The Tribunal partially allowed the appeal by deleting the addition for the conversion of Cumulative Compulsory Convertible Preference Shares (CCPS) into equity shares, stating it did not constitute a transfer under the Income Tax Act. The issue of notional interest on the capital balance in the partnership firm was sent back to the Assessing Officer for further examination. As the first issue was resolved in favor of the assessee, the assessment under Minimum Alternate Tax (MAT) computation became academic and was not further addressed. Case-Laws Income Tax Fri, 09 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370516