https://www.taxtmi.com/caselaws?id=24975 The court ruled in favor of the assessee trust, holding that section 11(1A) of the Income-tax Act, 1961, was applicable. The capital gains from the sale of shares were exempt as the sale proceeds were invested in another capital asset. The court affirmed that the entire sale proceeds were utilized for acquiring another capital asset, meeting the conditions for exemption from capital gains tax. The decision favored the assessee and concluded with no order as to costs. en-us Tue, 19 Apr 1988 00:00:00 +0530 Sat, 23 Jan 2010 14:28:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24975 The court ruled in favor of the assessee trust, holding that section 11(1A) of the Income-tax Act, 1961, was applicable. The capital gains from the sale of shares were exempt as the sale proceeds were invested in another capital asset. The court affirmed that the entire sale proceeds were utilized for acquiring another capital asset, meeting the conditions for exemption from capital gains tax. The decision favored the assessee and concluded with no order as to costs. Case-Laws Income Tax Tue, 19 Apr 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24975