https://www.taxtmi.com/caselaws?id=371562 The court ruled in favor of the Revenue, remanding the case back to the Tribunal for reconsideration of the assessee's specific issue of suffering losses and the sale being necessitated due to those losses. The court upheld the Tribunal's decision that the sale of Boyce Estate was not a slump sale and thus not taxable under Section 50B. Additionally, the court upheld various other decisions including the treatment of loss on the sale of shares, set off of long-term capital gains, and disallowance of re-plantation expenses. The court rejected ITA No. 16 of 2013, upholding the Tribunal's order. en-us Mon, 17 Sep 2018 00:00:00 +0530 Thu, 06 Dec 2018 05:35:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371562 The court ruled in favor of the Revenue, remanding the case back to the Tribunal for reconsideration of the assessee's specific issue of suffering losses and the sale being necessitated due to those losses. The court upheld the Tribunal's decision that the sale of Boyce Estate was not a slump sale and thus not taxable under Section 50B. Additionally, the court upheld various other decisions including the treatment of loss on the sale of shares, set off of long-term capital gains, and disallowance of re-plantation expenses. The court rejected ITA No. 16 of 2013, upholding the Tribunal's order. Case-Laws Income Tax Mon, 17 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371562