https://www.taxtmi.com/caselaws?id=23603 The High Court ruled in favor of the Revenue in a case involving the treatment of capital gains as commercial profits under section 104 of the Income-tax Act. The Court held that capital gains should be considered for arriving at commercial profits, overturning the initial decision by the Commissioner of Income-tax (Appeals). Additionally, the Court found that the Tribunal's conclusion regarding the company's inability to declare dividends due to small profits lacked specific material and directed a rehearing of the appeal to allow for the presentation of relevant evidence by both parties. en-us Tue, 19 Sep 1989 00:00:00 +0530 Tue, 22 Dec 2009 15:57:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23603 The High Court ruled in favor of the Revenue in a case involving the treatment of capital gains as commercial profits under section 104 of the Income-tax Act. The Court held that capital gains should be considered for arriving at commercial profits, overturning the initial decision by the Commissioner of Income-tax (Appeals). Additionally, the Court found that the Tribunal's conclusion regarding the company's inability to declare dividends due to small profits lacked specific material and directed a rehearing of the appeal to allow for the presentation of relevant evidence by both parties. Case-Laws Income Tax Tue, 19 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23603