https://www.taxtmi.com/caselaws?id=26253 The Tribunal accepted the adjustments to the balance-sheet for assessment years 1965-66 and 1966-67, favoring the assessee. Municipal valuation was considered as the annual letting value for properties, also in favor of the assessee. The High Court determined that the right acquired under agreements to sell did not create a capital asset, following previous decisions. Ultimately, all issues were resolved in favor of the assessee, leading to no costs being ordered. en-us Mon, 18 Mar 1985 00:00:00 +0530 Wed, 03 Feb 2010 16:57:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26253 The Tribunal accepted the adjustments to the balance-sheet for assessment years 1965-66 and 1966-67, favoring the assessee. Municipal valuation was considered as the annual letting value for properties, also in favor of the assessee. The High Court determined that the right acquired under agreements to sell did not create a capital asset, following previous decisions. Ultimately, all issues were resolved in favor of the assessee, leading to no costs being ordered. Case-Laws Income Tax Mon, 18 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26253