https://www.taxtmi.com/caselaws?id=15350 On whether capital gains arising on receipt of machinery by a partner on retirement from a firm were long-term, the HC upheld the Tribunal's view that the firm's period of holding (over 60 months) must be reckoned for determining the partner's holding period, treating the gain as long-term based on undisputed record facts and consistent HC precedent; the issue was decided in favour of the assessee and against the Revenue. On the Tribunal's powers to grant such relief despite the assessee not appealing the remand order, the HC held that absence of an assessee appeal did not fetter the Tribunal where relevant facts were on record and the relief had been sought before the assessing authority; the Tribunal's grant of relief was sustained. en-us Thu, 23 Sep 1999 00:00:00 +0530 Thu, 01 Jan 2026 12:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15350 On whether capital gains arising on receipt of machinery by a partner on retirement from a firm were long-term, the HC upheld the Tribunal's view that the firm's period of holding (over 60 months) must be reckoned for determining the partner's holding period, treating the gain as long-term based on undisputed record facts and consistent HC precedent; the issue was decided in favour of the assessee and against the Revenue. On the Tribunal's powers to grant such relief despite the assessee not appealing the remand order, the HC held that absence of an assessee appeal did not fetter the Tribunal where relevant facts were on record and the relief had been sought before the assessing authority; the Tribunal's grant of relief was sustained. Case-Laws Income Tax Thu, 23 Sep 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15350