https://www.taxtmi.com/caselaws?id=21027 The Tribunal and High Court held that there was no transfer of any capital asset by the assessee under certain agreements, resulting in no capital gains. The Additional Commissioner's order under section 263 was canceled, and the Income-tax Officer's assessment order for the relevant year was restored. Both the Tribunal and High Court found that the contracts in question did not lead to any capital gains and that the provisions of section 52(1) or 52(2) were not applicable. The decision favored the assessee, with no costs awarded against them. en-us Wed, 16 Sep 1992 00:00:00 +0530 Wed, 18 Nov 2009 16:57:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21027 The Tribunal and High Court held that there was no transfer of any capital asset by the assessee under certain agreements, resulting in no capital gains. The Additional Commissioner's order under section 263 was canceled, and the Income-tax Officer's assessment order for the relevant year was restored. Both the Tribunal and High Court found that the contracts in question did not lead to any capital gains and that the provisions of section 52(1) or 52(2) were not applicable. The decision favored the assessee, with no costs awarded against them. Case-Laws Income Tax Wed, 16 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21027