https://www.taxtmi.com/caselaws?id=55239 The Tribunal ruled in favor of the assessee, holding that capital gains chargeable to tax had not arisen due to the benefit of section 47(v) in a transfer of shares. The Tribunal upheld the CIT(A)'s decision on cost substitution under section 49(1)(iii)(e) and rejected the department's appeal. The Tribunal left open the issue of interest levy for the assessee to pursue with the CIT(A) and upheld the decision to tax interest income on a cash basis. Additionally, the Tribunal agreed with the deletion of an addition related to service charges, resulting in the partial allowance of the assessee's appeal and the dismissal of the department's appeal. en-us Wed, 21 Jul 1993 00:00:00 +0530 Wed, 24 Nov 2010 17:36:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55239 The Tribunal ruled in favor of the assessee, holding that capital gains chargeable to tax had not arisen due to the benefit of section 47(v) in a transfer of shares. The Tribunal upheld the CIT(A)'s decision on cost substitution under section 49(1)(iii)(e) and rejected the department's appeal. The Tribunal left open the issue of interest levy for the assessee to pursue with the CIT(A) and upheld the decision to tax interest income on a cash basis. Additionally, the Tribunal agreed with the deletion of an addition related to service charges, resulting in the partial allowance of the assessee's appeal and the dismissal of the department's appeal. Case-Laws Income Tax Wed, 21 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55239