https://www.taxtmi.com/caselaws?id=385482 The Tribunal partially allowed the appeal, permitting the deduction of expenses incurred for maintaining the legal status and liquidating assets. It directed the Assessing Officer to reconsider the bifurcation of capital gains on the sale of land and building into long-term and short-term gains. Additionally, the Tribunal instructed the AO to examine the claim for set off of unabsorbed depreciation and brought forward business loss against short-term capital gains. en-us Wed, 03 Jul 2019 00:00:00 +0530 Fri, 13 Dec 2019 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385482 The Tribunal partially allowed the appeal, permitting the deduction of expenses incurred for maintaining the legal status and liquidating assets. It directed the Assessing Officer to reconsider the bifurcation of capital gains on the sale of land and building into long-term and short-term gains. Additionally, the Tribunal instructed the AO to examine the claim for set off of unabsorbed depreciation and brought forward business loss against short-term capital gains. Case-Laws Income Tax Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385482