https://www.taxtmi.com/caselaws?id=57381 The Tribunal dismissed both appeals, affirming the treatment of profit on the sale of shares as capital gain and allowing the deduction of unabsorbed development rebate against total income. The decision hinged on the intention behind share purchases, concluding they were investments, not for trading. Additionally, the Tribunal emphasized the specific provisions of section 33(2)(ii) for rebate deduction, overriding the Revenue's argument based on section 72(1). The judgment extensively analyzed legal principles and precedents to support its conclusions. en-us Mon, 06 Feb 1984 00:00:00 +0530 Thu, 09 Dec 2010 18:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57381 The Tribunal dismissed both appeals, affirming the treatment of profit on the sale of shares as capital gain and allowing the deduction of unabsorbed development rebate against total income. The decision hinged on the intention behind share purchases, concluding they were investments, not for trading. Additionally, the Tribunal emphasized the specific provisions of section 33(2)(ii) for rebate deduction, overriding the Revenue's argument based on section 72(1). The judgment extensively analyzed legal principles and precedents to support its conclusions. Case-Laws Income Tax Mon, 06 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57381