https://www.taxtmi.com/caselaws?id=286745 The Tribunal concluded that the capital gains charge sustained by the departmental authorities could not stand. The partnership firm was deemed genuine, with substantial business operations, and the contribution of shares as capital was not a tax avoidance scheme. Therefore, the appeals were allowed, setting aside the capital gains charge on each partner. en-us Tue, 21 Jan 1986 00:00:00 +0530 Fri, 13 Mar 2020 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286745 The Tribunal concluded that the capital gains charge sustained by the departmental authorities could not stand. The partnership firm was deemed genuine, with substantial business operations, and the contribution of shares as capital was not a tax avoidance scheme. Therefore, the appeals were allowed, setting aside the capital gains charge on each partner. Case-Laws Income Tax Tue, 21 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286745