https://www.taxtmi.com/caselaws?id=286112 The ITAT dismissed the Revenue's appeal and allowed the assessee's cross-objection. The compensation received on retirement from the partnership firm was held not taxable as long-term capital gain, and the notional addition of rental income on unsold flats was not sustained for the assessment year in question. The levy of interest and initiation of penalty proceedings were not specifically addressed in detail, indicating they were either consequential or not separately contested. en-us Thu, 09 May 2019 00:00:00 +0530 Wed, 12 Feb 2020 18:57:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286112 The ITAT dismissed the Revenue's appeal and allowed the assessee's cross-objection. The compensation received on retirement from the partnership firm was held not taxable as long-term capital gain, and the notional addition of rental income on unsold flats was not sustained for the assessment year in question. The levy of interest and initiation of penalty proceedings were not specifically addressed in detail, indicating they were either consequential or not separately contested. Case-Laws Income Tax Thu, 09 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286112