https://www.taxtmi.com/caselaws?id=16433 The Tribunal's decision in the case involved disputes over the valuation of assets for depreciation calculation, treatment of profit on sale of flats for business income, classification of surplus on sale of showrooms as capital gains or business profits, and determination of showrooms as part of stock-in-trade. The Tribunal's classification of surplus on the sale of showrooms as capital gains was upheld, rejecting the Revenue's appeal for reference to the High Court under section 256(1) of the Act. The disagreement between the Assessing Officer and the Tribunal on the treatment of showrooms and valuation of assets was resolved in favor of the taxpayer. en-us Mon, 16 Nov 1998 00:00:00 +0530 Mon, 07 Sep 2009 17:02:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16433 The Tribunal's decision in the case involved disputes over the valuation of assets for depreciation calculation, treatment of profit on sale of flats for business income, classification of surplus on sale of showrooms as capital gains or business profits, and determination of showrooms as part of stock-in-trade. The Tribunal's classification of surplus on the sale of showrooms as capital gains was upheld, rejecting the Revenue's appeal for reference to the High Court under section 256(1) of the Act. The disagreement between the Assessing Officer and the Tribunal on the treatment of showrooms and valuation of assets was resolved in favor of the taxpayer. Case-Laws Income Tax Mon, 16 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16433