https://www.taxtmi.com/caselaws?id=466887 Gain on sale of unquoted non voting preference shares was held to be long term capital gain where the assessing officer had before him the CBDT instruction and had made enquiries and examined supporting records; absent specific evidence of sham transactions or transfer of control, revision of assessment on the basis that the instruction was not considered could not be sustained. Revision to restrict set off of brought forward long term capital losses was set aside because those losses arise from pending appellate proceedings and cannot be pre empted by revision jurisdiction. An adverse treatment of a recorded loss on disposal of plant and equipment was also set aside on proof it had been added back in computation. en-us Wed, 23 Oct 2024 00:00:00 +0530 Mon, 23 Feb 2026 15:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466887 Gain on sale of unquoted non voting preference shares was held to be long term capital gain where the assessing officer had before him the CBDT instruction and had made enquiries and examined supporting records; absent specific evidence of sham transactions or transfer of control, revision of assessment on the basis that the instruction was not considered could not be sustained. Revision to restrict set off of brought forward long term capital losses was set aside because those losses arise from pending appellate proceedings and cannot be pre empted by revision jurisdiction. An adverse treatment of a recorded loss on disposal of plant and equipment was also set aside on proof it had been added back in computation. Case-Laws Income Tax Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466887