https://www.taxtmi.com/caselaws?id=432478 The court held that Section 45(4) was inapplicable as there was no distribution or dissolution of the firm, leading to the rejection of long-term and short-term capital gains additions. The computation of short-term capital gains on a building belonging to a partner was deemed unsustainable. Arbitrary profit margin additions on stock transfer were disallowed, citing the SA Builders case. The disallowance under Section 14A was unsustainable due to lack of recorded satisfaction by the Assessing Officer. Disallowance of premium on a Keyman Insurance Policy was found unjustified. The appeal was allowed in favor of the assessee, overturning the additions and disallowances. en-us Fri, 02 Dec 2022 00:00:00 +0530 Sat, 07 Jan 2023 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432478 The court held that Section 45(4) was inapplicable as there was no distribution or dissolution of the firm, leading to the rejection of long-term and short-term capital gains additions. The computation of short-term capital gains on a building belonging to a partner was deemed unsustainable. Arbitrary profit margin additions on stock transfer were disallowed, citing the SA Builders case. The disallowance under Section 14A was unsustainable due to lack of recorded satisfaction by the Assessing Officer. Disallowance of premium on a Keyman Insurance Policy was found unjustified. The appeal was allowed in favor of the assessee, overturning the additions and disallowances. Case-Laws Income Tax Fri, 02 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432478