https://www.taxtmi.com/caselaws?id=57284 The Tribunal allowed the appeal partly, ruling that the conversion of the firm into a private limited company did not constitute a transfer under Section 2(47) read with Section 45(4) of the IT Act, 1961. Therefore, the issue of capital gains tax was dismissed. The valuation of land and the chargeability of interest issues were either deemed academic or consequential and were not specifically addressed by the Tribunal. en-us Mon, 30 Jun 2003 00:00:00 +0530 Wed, 01 Aug 2012 00:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57284 The Tribunal allowed the appeal partly, ruling that the conversion of the firm into a private limited company did not constitute a transfer under Section 2(47) read with Section 45(4) of the IT Act, 1961. Therefore, the issue of capital gains tax was dismissed. The valuation of land and the chargeability of interest issues were either deemed academic or consequential and were not specifically addressed by the Tribunal. Case-Laws Income Tax Mon, 30 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57284