https://www.taxtmi.com/caselaws?id=26283 The court interpreted sections 45 and 51 of the Income-tax Act, 1961, regarding capital gains on the sale of a part of a property. It held that the transfer of a part of a capital asset can trigger capital gains tax, rejecting the argument that only the transfer of the entire asset should be taxable. The court found that section 51 did not support the taxpayer's position, affirming the assessment of capital gains in favor of the Revenue. The court upheld the Income-tax Officer's determination of capital gains, with each party bearing their own costs. en-us Fri, 19 Apr 1985 00:00:00 +0530 Thu, 04 Feb 2010 10:35:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26283 The court interpreted sections 45 and 51 of the Income-tax Act, 1961, regarding capital gains on the sale of a part of a property. It held that the transfer of a part of a capital asset can trigger capital gains tax, rejecting the argument that only the transfer of the entire asset should be taxable. The court found that section 51 did not support the taxpayer's position, affirming the assessment of capital gains in favor of the Revenue. The court upheld the Income-tax Officer's determination of capital gains, with each party bearing their own costs. Case-Laws Income Tax Fri, 19 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26283