https://www.taxtmi.com/caselaws?id=424218 The Tribunal ruled in favor of the Appellant partnership firm in a tax case, determining that the sum of INR 44,16,000 should be classified as Long Term Capital Gains (LTCG) and not "Income from Other Sources." Additionally, the Appellant was found eligible for exemption under Section 54EC of the Income Tax Act for the investment in bonds, as it was made within the permissible period based on the date of the registered Cancellation Deed. The appeal was allowed in favor of the Appellant. en-us Fri, 20 May 2022 00:00:00 +0530 Fri, 24 Jun 2022 08:25:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424218 The Tribunal ruled in favor of the Appellant partnership firm in a tax case, determining that the sum of INR 44,16,000 should be classified as Long Term Capital Gains (LTCG) and not "Income from Other Sources." Additionally, the Appellant was found eligible for exemption under Section 54EC of the Income Tax Act for the investment in bonds, as it was made within the permissible period based on the date of the registered Cancellation Deed. The appeal was allowed in favor of the Appellant. Case-Laws Income Tax Fri, 20 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424218