https://www.taxtmi.com/caselaws?id=55365 The Tribunal allowed the appeal, determining that the land was not a capital asset under the IT Act's provisions. The transfer of land to the partnership firm was held not to constitute a taxable 'transfer.' The Tribunal overturned the CIT's Section 263 order, restoring the original assessment by the ITO. en-us Tue, 05 Jul 1977 00:00:00 +0530 Fri, 26 Nov 2010 16:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55365 The Tribunal allowed the appeal, determining that the land was not a capital asset under the IT Act's provisions. The transfer of land to the partnership firm was held not to constitute a taxable 'transfer.' The Tribunal overturned the CIT's Section 263 order, restoring the original assessment by the ITO. Case-Laws Income Tax Tue, 05 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55365