https://www.taxtmi.com/caselaws?id=784866 Dispute concerns whether capital gains computed under Section 50 must be taxed at rates applicable to long-term gains under Section 112; Commissioner declined to follow an ITAT Special Bench decision (SKF India) and reviewed conflicting precedents, prompting judicial intervention. The administrative refusal to apply the Special Bench's ratio was criticised as misdirection and contrary to binding precedent and judicial discipline; the impugned order under Section 264 was quashed and set aside, and the matter remanded for a fresh order directing the revenue authority to follow the Special Bench decision in determining the rate of tax on the capital gains. en-us Tue, 06 Jan 2026 00:00:00 +0530 Tue, 13 Jan 2026 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784866 Dispute concerns whether capital gains computed under Section 50 must be taxed at rates applicable to long-term gains under Section 112; Commissioner declined to follow an ITAT Special Bench decision (SKF India) and reviewed conflicting precedents, prompting judicial intervention. The administrative refusal to apply the Special Bench's ratio was criticised as misdirection and contrary to binding precedent and judicial discipline; the impugned order under Section 264 was quashed and set aside, and the matter remanded for a fresh order directing the revenue authority to follow the Special Bench decision in determining the rate of tax on the capital gains. Case-Laws Income Tax Tue, 06 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784866